Former Shufersal Executive Buys 11 City Market Stores for $9.5 Million

Daniel Veridiger, the former CEO of "Yesh Chesed," a Haredi supermarket chain owned by Shufersal, is expanding his own grocery chain, "100 and Beyond." He is acquiring 11 "City Market" branches, with an option for a twelfth, from founder Yossi Schwartz for approximately NIS 35 million (around $9.5 million), including inventory.

Veridiger was dismissed from "Yesh Chesed" about 18 months ago following disagreements with the Amir brothers, who own Shufersal. He is recognized as a retail expert, having managed "Yesh Chesed" as a distinct entity with lower prices than its parent company, despite reporting to Shufersal's management.

After leaving Shufersal, Veridiger purchased a large "Neto Savings" branch in Ashdod and converted it into the first "100 and Beyond" store, complemented by an online delivery service. He emphasized that his new chain targets the general public, not exclusively the Haredi community.

The newly acquired "City Market" branches are located in various cities across Israel, including Beer Yaakov, Ramla, Kfar Saba, Be'er Sheva, Kiryat Ono, Rehovot, Hadera, Or Yehuda, Tel Aviv, and Gedera. Notably, all these branches were closed on Saturdays, a characteristic that carried over from their previous ownership, even though about 70% of "City Market's" overall branches are open on Saturdays.

Yossi Schwartz, founder of "City Market," stated that the sale is a significant business move, with the proceeds intended for the chain's development and expansion. He plans to use the funds to develop "City Market" into a chain that includes neighborhood stores, discount outlets, logistics centers, and direct imports. Schwartz also announced that "City Market" is opening six new branches and plans to open approximately 15 more by 2027, investing NIS 20 million in new openings.