Ultra-Orthodox Businessman Buys Major Retail Chains in $47 Million Deal
Ronen Ganon, an ultra-Orthodox businessman from Safed, has acquired a controlling stake in a group of prominent Israeli retail companies, including ACE, Auto Deal, Beitili, and Urban, in a deal valued at NIS 173 million (approximately $47 million USD).
Ganon, who began his career in yeshivas before transitioning to business, plans to implement an ambitious strategy aimed at transforming the retail landscape in Israel.
The acquisition marks a significant milestone for Ganon, who has steadily built his business empire. The specific details of his strategic plans for the newly acquired companies were not immediately disclosed, but the intention is to revitalize and potentially expand their market presence.
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