Terminal X Cancels Deal to Acquire Lifestyle Chain SOHO
Translated & summarized from Globes by baba
Terminal X, a subsidiary of the Fox Group, has called off its planned acquisition of a controlling stake in the SOHO lifestyle chain due to unresolved negotiation gaps. The deal, announced just three weeks prior, would have seen Terminal X purchase over 50% of SOHO for 11 million shekels. SOHO operates 12 stores and an online platform, and its acquisition was part of Terminal X's expansion strategy into home goods. The cancellation does not impact Terminal X's previous acquisitions, but leaves its planned home goods expansion incomplete.
The story in 6 lines · by baba
- Terminal X has canceled its agreement to acquire a controlling stake in the SOHO lifestyle chain.
- The deal was called off due to irreconcilable differences that emerged during negotiations.
- Terminal X had agreed to buy over 50% of SOHO for 11 million shekels, valuing the company at 22 million shekels.
- SOHO operates 12 stores and an e-commerce site, focusing on design and lifestyle products.
- The acquisition was intended to bolster Terminal X's presence in the home goods market.
- This cancellation follows Terminal X's recent acquisitions of six other independent brands.
Terminal X, part of the Fox Group, has withdrawn from an agreement to acquire a controlling stake in the lifestyle and design chain SOHO, just three weeks after the deal was announced. The company informed the stock exchange on Thursday that negotiations between the parties had reached an impasse, leading to a mutual decision to cancel the non-binding memorandum of understanding signed last month. Specific details regarding the disagreements were not disclosed.
Initially, Terminal X had announced on September 16 its intention to purchase 50.01% of SOHO's shares for 11 million shekels, valuing the chain at approximately 22 million shekels. The preliminary agreement also included options for Terminal X to acquire an additional 37.5% stake between 2028 and 2031, potentially increasing its ownership to 87.51%. The transaction was contingent upon due diligence, the signing of definitive agreements, and regulatory approvals.
SOHO, founded in 2004 by Eytzion Valach, operates 12 concept stores for design and lifestyle products, alongside an e-commerce site and wholesale operations. The acquisition was intended to expand Terminal X's home goods sector as part of its strategy to grow by acquiring independent brands. Terminal X has previously acquired stakes in six companies, including Systers, Strongpool, Ada Zorgan, AINKER, Ronit Yam, and Sadeh Bar, for a cumulative initial investment of around 39 million shekels.
In late August, Terminal X CEO Nir Horowitz stated the company was actively seeking distinct brands that could leverage its logistical and marketing infrastructure. In the second quarter of 2026, Terminal X reported revenues of approximately 161 million shekels, a more than 20% increase year-over-year. Revenue from its owned independent brands surged over 77% to about 37 million shekels, constituting roughly 23% of the company's total income. While the cancellation of the SOHO deal does not affect prior acquisitions, it halts the planned expansion into the home goods market through this specific acquisition.
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