Investment Fund Buys Half of Cafe Chain for $40 Million
Translated & summarized from Walla by baba
Investment fund Green Lantern has purchased a 50% stake in the Israeli restaurant group Cafe Gan Si Pur for an estimated NIS 150 million. The current owners will continue to manage the chain, which plans to double its locations and expand into Tel Aviv and Lod. The deal awaits approval from the Antitrust Commissioner.
The story in 5 lines · by baba
- Green Lantern fund acquired 50% of Cafe Gan Si Pur for NIS 150 million.
- The chain plans to double its branches and expand to Tel Aviv and Lod.
- Current owners Bernardo Balchovich, Assaf Illouz, and Nissim Ben Simon will continue management.
- Cafe Gan Si Pur operates 12 restaurants primarily located in Israeli parks.
- The deal requires approval from the Antitrust Commissioner.
Investment fund Green Lantern has acquired a 50% stake in the Cafe Gan Si Pur restaurant group for an estimated valuation of NIS 150 million (approximately $40 million). The current co-owners, Bernardo Balchovich, Assaf Illouz, and Nissim Ben Simon, will retain ownership of the remaining shares and continue to manage the chain.
Cafe Gan Si Pur currently operates 12 restaurants, all situated in parks across Israel, including locations in Holon, Herzliya, Rishon LeZion, and Ness Ziona. The group's first restaurant was established in Holon.
For Balchovich, a co-founder of Pizza Meter, this acquisition marks a significant full circle. After the closure of the pizza chain and recovering from bankruptcy, he rebuilt his career by establishing the restaurant group.
Following the deal, Cafe Gan Si Pur plans a substantial expansion, aiming to double its number of branches. As part of these development plans, the chain intends to open restaurants in Tel Aviv and Lod for the first time. The group stated, "We eagerly await approval from the Antitrust Commissioner."
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