Kamari Group Acquires 50% Stake in Bakery Chains for $6 Million
Translated & summarized from Mako by baba
Kamari Group acquired a 50% stake in Tachanat Lechem and BREADCAFE for NIS 23 million, aiming to expand the bakery and cafe chains to 50 branches nationwide. The deal includes a clause about a potential future stock market listing for Kamari Group, though the company denies it is currently planned. This follows Kamari Group's recent acquisition of a stake in the Zalman's sausage chain.
The story in 5 lines · by baba
- Kamari Group acquired a 50% stake in Tachanat Lechem and BREADCAFE for NIS 23 million.
- The deal aims to expand the bakery and cafe chains to approximately 50 branches across Israel.
- The acquisition agreement includes a clause referencing a potential future stock market listing for Kamari Group.
- Kamari Group recently purchased a 50% stake in the Zalman's sausage chain for NIS 3.5 million.
- Kamari Group denied that a stock market listing is currently on its agenda.
Kamari Group has announced the acquisition of a 50% stake in the bakery and cafe chains Tachanat Lechem and BREADCAFE for NIS 23 million (approximately $6 million). The deal aims to accelerate the expansion of these chains, with a goal of reaching around 50 branches across Israel.
Currently, Tachanat Lechem operates 16 bakeries with an additional six under construction, while BREADCAFE has six existing cafes. Shashi and Eran Avital will continue to lead the daily operations and development of the chains, with Kamari Group providing operational and commercial infrastructure. Assaf Kamari, an owner of Kamari Group, stated that the acquisition aligns with the group's expansion strategy, highlighting the brands' clear identity, loyal customer base, and significant growth potential.
Notably, the acquisition agreement includes a clause referencing a potential future stock market listing for Kamari Group. The group, which operates over 130 convenience stores and franchises for brands like Arcafe and Roladin, recently purchased a 50% stake in the Zalman's sausage chain for NIS 3.5 million. This recent activity suggests Kamari Group is positioning itself for a potential IPO on the Tel Aviv Stock Exchange.
Kamari Group responded to reports of an impending IPO by stating it is not currently on the group's agenda. They emphasized their focus on business development and expansion through strategic acquisitions and brand growth, adding that clauses regarding future listings are common in business partnership agreements and depend on operational development.
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