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June 29, 2018

Long4Life to buy South African fashion retailer Rage for $280.9m

Investment company Long4Life is set to purchase South African fashion retailer Rage Distribution Proprietary for R3.915bn ($282.78m).

Investment company Long4Life is set to purchase South African fashion retailer Rage Distribution Proprietary for R3.915bn ($282.78m).

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Walmart: Going Beyond Company Disclosures

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The transaction allows Long4Life to expand its business with a focus on mid-to-lower living standard measure (LSM) segments. It will also support the company’s existing lifestyle brands platform and create additional cross-selling opportunities.

“Following the deal, Rage founders Jeffrey and Merle Gochin will become significant shareholders of Long4Life and continue to manage Rage.”

Rage will also strengthen Long4Life’s retail product offerings to include all segments of the LSM market.

The purchase consideration for the transaction will be funded through the issue of 270 million Long4Life ordinary shares at a price of R5.50 per share, valuing at $107m. Rage will then hold a 22.8% stake in Long4Life, and the remaining amount will be paid in cash.

Scheduled to close on 1 July 2018, the transaction is subject to certain conditions such as due diligence investigations and approval by the competition authorities.

Following the deal, Rage founders Jeffrey and Merle Gochin will become significant shareholders of Long4Life and continue to manage Rage. Jeffrey will also be appointed to director of the Long4Life board of directors.

Established in 1996, Rage offers footwear, apparel and accessories for adults and children.

The South African fashion company currently operates 555 stores across the country. It is opening around 90 new stores per year across South Africa.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.