Herzl Market Acquires Stop Market for $180 Million
Translated & summarized from Ice by baba
Herzl Market, part of Dudu Ezra Holdings, is acquiring the Stop Market chain for approximately 680 million shekels. The deal, approved by the Competition Authority, will combine 23 branches nationwide, with plans for expansion. Bank Hapoalim is providing significant financing for the acquisition. The merged entity expects to significantly increase its annual sales and operational efficiencies.
The story in 6 lines · by baba
- Herzl Market is acquiring Stop Market for approximately 680 million shekels.
- The combined supermarket chains will operate 23 branches nationwide.
- Bank Hapoalim is providing 500 million shekels in financing for the deal.
- The Competition Authority approved the acquisition on October 26th.
- The merged group anticipates annual sales of 1.5 billion shekels, potentially reaching 2 billion by 2027.
- The acquisition aims to create operational and commercial advantages, including increased purchasing power.
Herzl Market, a supermarket chain owned by Dudu Ezra Holdings, is acquiring the Stop Market chain for approximately 680 million shekels (about $180 million). The combined entity will operate 23 branches nationwide, with Herzl Market planning to open ten additional stores. Bank Hapoalim is financing the deal, providing Dudu Ezra Holdings with 500 million shekels. The acquisition was approved by the Competition Authority on October 26th.
Dudu Ezra Holdings anticipates that the combined group's annual sales will reach 1.5 billion shekels post-acquisition, with a potential increase to 2 billion shekels by the end of 2027. The group, founded in 1989, is active in food retail, fruits and vegetables, logistics, and distribution.
Herzl Market currently operates 12 branches specializing in fresh produce, while Stop Market, founded about 26 years ago by Yossi Meshiah, focuses on larger stores with premium products and employs around 900 people. The merger is expected to create operational and commercial advantages, including increased purchasing power, streamlined logistics, and enhanced synergy in the fruit and vegetable sector.
Moshel Elkayam, CEO of Herzl Market, stated that the merger is a significant strategic step towards building a strong, leading food retail group with a broad national presence. He highlighted the existing business partnership and the potential to create a unified customer base of over half a million members. Bank Hapoalim's Deputy CEO, Shmulik Arbel, affirmed the bank's commitment to supporting leading Israeli companies and financing growth engines in the economy.
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