Terminal X Acquires Majority Stake in Lifestyle Importer Soho

Israeli e-commerce giant Terminal X, owned by businessman Harel Wizel, is set to acquire a controlling 50.01% stake in the import and distribution company Soho for NIS 11 million. The non-binding memorandum of understanding also includes an option for Terminal X to increase its shareholding in the future, subject to agreed-upon conditions. Terminal X will also gain the right to appoint the majority of Soho's board members.

Soho, operating in Israel since 2004, specializes in importing and distributing international lifestyle and design brands. The company manages 12 concept stores, an online e-commerce site, and wholesale distribution, employing approximately 100 people. This acquisition is expected to significantly expand Terminal X's presence in the lifestyle and design sectors, complementing its existing fashion and online retail operations.

The move aligns with Terminal X's recent strategic expansions, including the acquisition of makeup brand Ada Zargan and sports brand Strongpole. Terminal X already offers a diverse range of products, including fashion, furniture, jewelry, and home decor, featuring both Israeli and international brands like Pandora and Skims.

While the memorandum of understanding is non-binding, the deal is expected to be finalized upon the fulfillment of the stipulated conditions between the parties. The transaction signifies Terminal X's ambition to broaden its market reach beyond its current offerings.