Kamari Group Acquires 50% of Tachanat Lechem and BREADCAFE for $23 Million
Translated & summarized from N12 by baba
The Kamari Group acquired a 50% stake in Tachanat Lechem and BREADCAFE for NIS 23 million, planning to expand the chains to 50 branches nationwide. The deal includes a clause about a potential future stock market listing, though Kamari Group denies it's currently planned. This follows their recent purchase of a 50% stake in the Zalman's sausage chain.
The story in 5 lines · by baba
- Kamari Group bought 50% of Tachanat Lechem and BREADCAFE for NIS 23 million.
- The acquisition aims to expand the bakery and coffee chains to 50 branches across Israel.
- The deal reportedly includes a clause for a potential future stock market listing.
- Kamari Group recently acquired a 50% stake in the Zalman's sausage chain for NIS 3.5 million.
- Shashi and Eran Avital will continue to manage the chains' daily operations.
The Kamari Group has acquired a 50% stake in the Tachanat Lechem and BREADCAFE bakery and coffee shop chains for NIS 23 million (approximately $6.3 million USD). This acquisition is part of Kamari Group's expansion strategy, aiming to grow the combined chains to approximately 50 branches across Israel. Currently, Tachanat Lechem operates 16 bakeries with six more under construction, while BREADCAFE has six coffee shops. 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 group believes in brands with clear identities and growth potential, seeing Tachanat Lechem as an opportunity for nationwide expansion. The acquisition agreement reportedly includes a clause referencing a potential future stock market listing for Kamari Group. However, Kamari Group issued a statement clarifying that a stock market listing is not currently on their agenda, emphasizing their focus on business development and strategic acquisitions. This deal follows Kamari Group's recent purchase of a 50% stake in the Zalman's sausage chain for NIS 3.5 million (approximately $970,000 USD) just a week prior. The group is reportedly exploring further significant deals, suggesting these moves are intended to strengthen its position for a potential IPO on the Tel Aviv Stock Exchange.
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