Fresh off $2.4B windfall from Pepkor sale, South Africa's Brait on the hunt for up to 3 acquisitions

South African billionaire, Christoffel Wiese, owns about 35 percent of Brait.

Brait SE (BAT) is seeking investment targets for the 26.4 billion rand ($2.4 billion) windfall it received from the sale of its stake in Pepkor Holdings Pty Ltd. as shareholders pressure the company to spend the cash.

The South African investor plans to make as many as three acquisitions after 12-18 months, Chief Executive Officer John Gnodde said by phone today. Brait will look for companies in the food and consumer-goods market at the “value end of the equation,” he said.

Read more: Brait Targets $2.4 Billion Acquisitions With Pepkor Jackpot – Businessweek.