Comedian Eli Yatzpan Involved in Massive Israeli Catering Company Exit
Translated & summarized from Ice by baba
The Israeli catering company Li-Bar Events was acquired by SKY investment firm for an estimated 350-400 million shekels, with SKY taking a 50% stake. Actor and comedian Eli Yatzpan and his partner Or Bismut will receive millions for their intermediary role in the deal. The Yifrah family will retain 50% ownership and continue managing the company, which serves major clients including the IDF and numerous corporations.
The story in 5 lines · by baba
- Li-Bar Events, an Israeli catering company, was acquired by SKY for 350-400 million shekels.
- Comedian Eli Yatzpan and partner Or Bismut will earn millions as intermediaries in the deal.
- SKY investment firm is acquiring a 50% stake in Li-Bar Events.
- The Yifrah family will retain 50% ownership and continue managing the company.
- Li-Bar Events serves major clients including the IDF and corporations like Intel.
The Israeli catering and institutional food services company "Li-Bar Events" has been acquired in a deal valued between 350 to 400 million shekels (approximately $95-108 million USD). Private equity firm SKY is acquiring a 50% stake in the company, investing between 150 to 200 million shekels. The company, which began as a small sandwich stand in Kiryat Gat three decades ago, is now a major player employing around 1,500 people and serving tens of thousands of meals daily.
Surprisingly, actor and comedian Eli Yatzpan, along with his partner Or Bismut, are set to receive millions of shekels from this transaction. They served as intermediaries through their joint investment banking firm, Exodus, which specializes in mergers and acquisitions. Yatzpan chairs Exodus, while Bismut serves as its chief investment banker.
The Yifrah family, who founded and own Li-Bar Events, will retain the remaining 50% ownership and continue to manage daily operations. The company's annual revenues are estimated between 300 to 400 million shekels, with net profits in the tens of millions. Its client list includes major entities such as the IDF (including naval bases), the Ministry of Defense, Intel, Elbit Systems, the Israel Electric Corporation, Shufersal, Tnuva, Osem, and Electra.
Li-Bar Events is part of the larger "Shevet Achim" group, also owned by the Yifrah family. This group encompasses high-end tourism, entertainment, and hospitality assets in Israel, including event venues like Doria, Nesia, and Halelis, the "Dream Island" resort in the Shephelah region, a resort on the Sea of Galilee, and the SALMON shopping complex.
The funds from the acquisition will be used to accelerate Li-Bar's growth, enhance its operations, and pursue future mergers and acquisitions. The Yifrah family, whose sons Liel and Bar are the namesake of the company, was represented by lawyers Udi Efron, Sapir Bialystok-Franken, and Amit Sasson from the firm Firon.
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