Nextferm in Talks for Multi-Million Shekel Investment, Control Shift
Translated & summarized from Ice by baba
Israeli food-tech company Nextferm Technologies is negotiating a deal with businessman Yehuda Khemisa that could see him invest NIS 20 million and take control of the company. The funds are intended to launch a new meat-based food chain business. The deal includes structural changes and a potential name change for Nextferm, which has faced financial difficulties. Khemisa brings significant experience in the food and meat industry to the potential venture.
The story in 6 lines · by baba
- Nextferm Technologies is in talks with businessman Yehuda Khemisa for a potential investment and transfer of control.
- The deal involves an initial NIS 20 million investment for about 66.66% of the company's shares.
- The investment aims to establish a new meat-based food chain business.
- Khemisa has extensive experience in Israel's food and meat sector.
- The transaction includes structural changes such as a potential name change and share split.
- Nextferm, a struggling food-tech company, sees the deal as a significant opportunity for growth.
Israeli food-tech company Nextferm Technologies is in negotiations with businessman Yehuda Khemisa for a significant investment that would transfer control of the company to him. The proposed deal involves Khemisa investing NIS 20 million for approximately 66.66% of the company's shares, with an option to invest an additional NIS 20 million for up to 80% ownership. The investment is intended to fund a new venture into meat-based food chains.
Khemisa, who has extensive experience in Israel's food sector with businesses including meat processing plants, restaurants, and butcher shops like "Dalton Meat" and "Shawarma Bazal," plans to establish and develop a new retail operation focused on meat-based food chains. This would include acquiring existing branches, opening new ones, and engaging franchisees. An agreement to define operational boundaries will be signed to mitigate potential conflicts of interest with Khemisa's private activities.
Structural changes are also part of the planned transaction. These include renaming the company to "Maadanei Dalton (2027) Ltd." or a similar approved name, a 1:5 share split, amending the company's articles of association, appointing investor-nominated directors, and selecting a new CEO.
Nextferm's Chairman and CEO, Yaakov Zerachia, stated that the company views the potential deal as an opportunity to expand its business and develop new areas, which could increase revenue streams and create further business opportunities, ultimately supporting the company's growth and long-term shareholder value.
Nextferm, which developed yeast-based proteins and nutritional components for the food industry, has faced financial difficulties and ceased operations. The company, traded on the Tel Aviv Stock Exchange, previously focused on products like ProteVin, a yeast-derived protein for sports nutrition and high-protein foods, with reported commercial orders from France, Spain, and Singapore. The stock has seen recent positive performance, rising 58.45% in the past week and 34.18% in the last month.