Labat Africa Shares Its Global Expansion Plans After Receiving R300 Million Funding
Labat Africa Shares Its Global Expansion Plans After Receiving R300 Million Funding. South African investment holding company has announced its plans of a global expansion after it receiving R300 million funding from California-based GR Global Ventures.
“Labat’s responsibility is to ensure that we take the proposition of South Africa – with its quality raw materials and processing capabilities – to the globe by being part of the largest capital markets in Europe and the USA,” Labat Healthcare’s CEO, Stanton van Rooyen told Business Tech. The Labat Africa Board made the strategic decision to transition the business from an investment holding company into a fully Integrated cannabis business with a focus on healthcare, wellness and industrial hemp.
Labat Africa Limited is a local black owned and managed Investment Holding Company, listed on the Venture Capital Market of the Johannesburg Stock Exchange (“JSE”). Labat was founded and incorporated in 1995 by Brian van Rooyen and Victor Labat and listed on the JSE in 1999 as one of the first listed BEE companies.
The company has made a number of acquisitions in the cannabis space, as well as forming strategic partnerships to reach its goal of becoming the a market leader in the medicinal and industrial cannabis space by focusing on utilizing world-class scientific processes, the best human resources, strategic partnerships with market leaders, the best available medical skills, technology, formulations and intellectual property. With these acquisitions and funding receiving it is clear that Labat seeks to become the leader in the global cannabis industry.
“It is evident that for us to engage the cannabis economy on a global stage, partnering with and acquiring international retail brands remain an integral part of our strategy. This will give us the opportunity to broaden our retail reach to international consumers as well as bring quality international products to South Africa.” Van Rooyen added.
