Israel Competition Authority Approves Dalia Israel's Acquisition of Zappa

Israel's Competition Authority has approved Dalia Israel's acquisition of the majority of Zappa's operations. Dalia Israel will increase its stake in the performance network by purchasing the share held by German ticketing giant Eventim, raising its ownership to 81%. Following the deal, Eventim will exit the partnership, while businessman Golan Einat will retain his 19% share. The separation will divide operations, with Dalia Israel gaining full control of Zappa and Eventim retaining the ticketing company. The exclusive agreement between the parties will also be canceled, freeing Zappa from being obligated to use only Eventim's ticketing platform and allowing Eventim to offer services to other market players.

Dalia Israel initially acquired a 20% stake in Zappa in 2021 for approximately NIS 20 million, valuing the performance company at around NIS 100 million. The Competition Authority classified this as a "green transaction," indicating no significant competitive concerns and thus not requiring complex regulatory review. This classification suggests that the transfer of control to Dalia Israel was not seen as requiring special intervention.

The increased stake in Zappa aligns with Dalia Israel's broader strategy to diversify beyond its traditional role as a gas station company into a group with various retail and service activities. The company, led by CEO Yoram Eil, operates about 240 refueling complexes, representing roughly 18% of the market, along with Menta convenience stores. It also owns Cafe Joe and approximately 93% of Burger King Israel. Recently, Hot Mobile was added to its portfolio, with Dalia Israel holding 40%.

Dalia Israel aims to leverage its large customer base from gas stations to serve other group brands. In August 2025, it launched the "Joe Dalia Club of Friends," consolidating benefits from Dalia, Cafe Joe, and Burger King, with plans to include Zappa. The company reported half a million paying users in its Dalia app, intending to centralize group brands there. Dana Tochner, CEO of Burger King Israel, previously highlighted the advantages of operating under Dalia, including strong club benefits and cross-group synergies.

Concurrently with its expansion, Dalia Israel has shown improved financial results. In the second quarter, revenues reached approximately NIS 1.5 billion, a 28% increase from the previous year, with operating profit jumping to NIS 81 million and net profit reaching NIS 46 million. For the first half of the year, revenues were about NIS 2.58 billion and net profit was NIS 51 million. In July, Laumi Partners invested NIS 213 million for a 20% stake in Dalia Israel, valuing the company at NIS 850 million before the investment, partly to finance its share in the Hot Mobile acquisition.