Sky Fund Buys 50% of Li Bar Catering for $95 Million
Translated & summarized from Calcalist by baba
The Yifrach family has sold a 50% stake in their catering company, Li Bar, to the investment fund Sky for NIS 350 million. Sky will invest NIS 170 million in the deal, with half going to the company and half to the sellers. Li Bar, founded 30 years ago, employs 1,400 people and has annual revenues of NIS 400 million.
The story in 5 lines · by baba
- Sky investment fund acquired 50% of Li Bar catering company for NIS 350 million.
- The Yifrach family sold their stake, receiving NIS 170 million from Sky.
- Li Bar employs 1,400 people and has annual revenues of NIS 400 million.
- The company was founded 30 years ago by Miri and Yaakov Yifrach.
- Sky is also negotiating to sell its stake in Icon Group for NIS 500 million.
The Yifrach family from Kiryat Gat has sold a 50% stake in their catering company, Li Bar, to the investment fund Sky for a valuation of NIS 350 million (approximately $95 million). Sky, managed by Zvi Yochman and Nir Dagan, will invest around NIS 170 million ($46 million) in the deal, with half going into the company and the other half to the Yifrachs, Miri and Yaakov.
Founded about 30 years ago by the Yifrachs, the company began as a small restaurant. Today, it provides catering services primarily to large corporations, including Osem, Shufersal, Electra, the Israel Police, the IDF, the Israel Prison Service, and Meir Cars. Li Bar employs approximately 1,400 workers and generates annual revenues of about NIS 400 million ($109 million).
This transaction follows a recent report that Sky is in negotiations to sell its stake in Icon Group, owner of the iDigital store chain, for approximately half a billion shekels, which is over 30% above the company's market value on the stock exchange.
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