Sorbet salon group close to a sale
South African salon group Sorbet is in the process of negotiating a deal with an investment holding company that's looking to acquire the business.
Founder Ian Fuhr told Professional Beauty South Africa that the group is in the final stages of securing the sale with investment holding company Long4Life, which is run by South African entrepreneurs Brian Joffe and Kevin Hedderwick.
He also revealed that a fifth London salon is planned, though the location is yet to be confirmed.
“Should the deal go ahead, the entire Sorbet management team, including myself, will be committed to stay on and help build a large beauty conglomerate under the Long4Life/Sorbet umbrella. We would all be signing service agreements with the new company to ensure the continuity of the business," he commented.
He also addressed rumours in South Africa that the investment deal is linked to a planned sale of the company or closures of some of the salons, which unlike the UK sites, are franchised.
“We are not aware of a single salon that is planning to close. There are some salons where the owners wish to sell, but this does not have anything to do with the acquisition."
There are currently four Sorbet salons in the UK, all in London.