Hassen Adams, his son Rayan and Queens Plate winner Gimmiethegreenlight
Capetonian Hassen Adams is establishing a reputation as one of South Africa’s great entrepreneurs.
In horse racing and breeding his success continues to grow but in the business market he has taken a R28m start up to R3bn in cash
His Grand Parade Investments, which boasts 20 000 shareholders from mostly humble circumstances, is one of the JSE’s star performers, rising 78% in the past year. Part of that was on the back of the spectacularly successful launch of its new crown jewel, the local franchise of US brand Burger King.
In thoughtful discussion on CNBC Africa’s Power Lunch on Thursday, Adams explained to Alec Hogg why he is steering his cash flush company deeper into the food sector, including the acquisition of a 10% stake in Spur Holdings at a 13% discount to the current market price. With a market cap that’s only reflecting the physical cash owned by the company, it doesn’t take a rocket scientist to work out that despite the past year’s surge, GPI remains among the most attractive shares listed on the JSE.
