Clicks Group Limited (JSE:CLS) agreed to acquire Sorbet Holdings Proprietary Limited from Long4life Limited for ZAR 105 million on November 24, 2022. The consideration will be paid in cash. The transaction will result in the Clicks Group holding 100% of the issued share capital of all Sorbet group entities.

Clicks Group Limited (JSE:CLS) welcomes the Sorbet employees and franchise partners into the group and look forward to a mutually beneficial, value accretive relationship. The proposed transaction is subject to approval by competition authorities. The effective date of acquisition is expected to be the first day of the month following the approval by the competition authorities.