Ganon Group Acquires Multi Retail, Eyes Merger with Zoul Stock
The Israeli Antitrust Commissioner has approved the acquisition of control over Multi Retail by the Ganon Group for NIS 173 million. The Ganon Group will hold 72.3% of Multi Retail, a company that operates under brands like ACE, Beitili, and Zoul Stock.
The Ganon Group is currently exploring a potential future merger between Multi Retail's operations and Zoul Stock. While no decision has been made yet, such a consolidation could create a major retail group with an estimated annual revenue of NIS 1.7 billion and approximately 155 stores nationwide. This combined entity would operate across various sectors including stock goods, DIY, home, automotive, furniture, and online retail.
Ronen Ganon, representing the Ganon Group, stated that the approval and completion of the deal mark a new chapter. He highlighted Multi Retail's strong brands, excellent employees, national presence, and significant potential. Ganon emphasized the group's extensive experience in retail, trade, import, and logistics, with the goal of strengthening existing operations, growing the brands, and optimizing the company.
The acquisition positions the Ganon Group to significantly expand its retail footprint and market influence in Israel.
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