Barak Abramov Sells Pizza Chain Amid Japenica Violence
Translated & summarized from Ice by baba
Barak Abramov has sold his pizza chain amid a series of violent attacks on his other restaurant chain, Japenica. The sale to Gilead and Ben Baruchin's company includes plans to expand the Wingz chain nationally. Abramov recently sold a stake in Japenica for NIS 200 million.
The story in 5 lines · by baba
- Barak Abramov sold his pizza chain to Gilead and Ben Baruchin.
- The sale occurs amid violent attacks on Abramov's Japenica chain.
- The acquiring company plans to expand the Wingz chain nationally.
- Abramov recently sold a stake in Japenica for NIS 200 million.
- Abramov is suing Kan 11 for defamation over the Japenica affair.
Barak Abramov, recently in the headlines due to attacks on his restaurant chain Japenica, has sold his pizza chain to a company controlled by businessman and real estate developer Gilead Baruchin and his son, Ben Baruchin. The attacks on Japenica included arson at a branch in Givatayim and grenade and explosive device attacks on branches in Or Yehuda, Kiryat Ono, and Ramat Gan. Abramov also owns the football club Beitar Jerusalem and the Don Perdo Pizza chain.
The acquiring company, B.Y Baruchin Fast Food Ltd., also recently signed an agreement to purchase Wingz - Crispy American Style Wings and all its operations from Drew Rosen's company, Wingz - Fast Food and Crunch Ltd., including its Givatayim branch. The company intends to expand Wingz into a national chain.
Last May, Abramov sold 20% of Japenica to Leumi Partners for NIS 200 million, valuing the chain at NIS 1 billion. The terms of that deal stipulated the funds would go to Abramov personally, not the company. However, following the sale, the grenade attacks on Japenica branches raised questions about Leumi Partners' involvement. Abramov is now selling his pizza chain, which operates in Petah Tikva, Herzliya, and Kiryat Ono and is expanding through franchising.
Abramov, who entered the Japenica business nine years ago as a partner in a Tel Aviv branch before acquiring the entire chain from Avi Liani, also holds stakes in other companies under the Landora food group, including the Soso and Sons hamburger chain, Cipora Skewers, and the Yummarket production plant. He recently filed a defamation lawsuit against Kan 11 regarding the Japenica affair. The recent events have led to speculation that the company's planned IPO would be postponed.