Brait

INVESTMENT YEAR: 2020 - Current

BUSINESS DESCRIPTION:
Investment holding company focused on the broad consumer sector
INVESTMENT PARTNERS:
Ethos Capital, Titan
FUND:
ENTERPRISE VALUE
JSE-listed
INVESTMENT TEAM
Overview

Ethos has entered into a strategic equity partnership with Brait, providing a strong platform to maximise value through the realisation of assets in Brait’s portfolio, and returning capital to shareholders in the medium term. The partnership entails Ethos investing R1.3bn into Brait as part of the February 2020 Rights Offer and becoming the new advisor to Brait Mauritius Limited replacing the existing Brait advisory contract with effect from 1 March 2020. Ethos feel that applying a private equity mindset to the Brait portfolio and leveraging Ethos’ proven ability to accelerate value enhancing strategies will provide a clear pathway to unlocking value over the medium term.

Brait comprises investments in a number of underlying businesses:

  • Virgin Active, the leading international health club operator, with clubs across four continents in eight countries, serving over 1.2 million members worldwide
  • Premier, a leading South African FMCG manufacturer offering branded and private label solutions
  • Iceland Foods, a UK based national food retailer operating 960 UK high street stores and 106 larger format stores
  • New Look, a leading UK multichannel fast-fashion brand, operating in nearly 500 locations
  • DGB, a leading South African producer and exporter of local wine and importer of spirit brands
  • Consol, the largest manufacturer of glass packaging products on the African continent

For more information on Brait, please see www.brait.com.