Terminal X to Acquire Majority Stake in Soho for $3 Million

Terminal X Group has signed a non-binding memorandum of understanding to acquire a controlling interest in Soho, a company specializing in design and lifestyle products. Under the agreement, Terminal X is set to purchase 50.01% of Soho's share capital and voting rights for NIS 11 million (approximately $3 million).

The acquisition is expected to expand Terminal X's operations in the design and lifestyle sector and strengthen its presence in the category. Upon completion, Terminal X will control Soho and have the right to appoint the majority of its board members. The integration aims to incorporate Soho's business into the group and broaden its offerings beyond existing activities.

Nir Horowitz, CEO of Terminal X Group, stated, "The connection with Soho is another step in Terminal X Group's growth strategy. Soho, which has built a desirable brand in the design and lifestyle worlds in Israel over the years, naturally fits into the strategy." The memorandum also includes an option mechanism that could allow Terminal X to increase its stake in Soho in the future, subject to agreed-upon conditions.

Currently, the agreement is a non-binding memorandum of understanding, indicating that further negotiations and due diligence are required before the deal is finalized.