Green Lantern Fund Acquires 49% of Israeli Bakery Biscotti Valued at 500 Million Shekels

After seven months of review, the Israeli Antitrust Authority approved the acquisition of 49% of Biscotti, a leading bakery company, by the Green Lantern fund led by Richie Hunter. The deal values Biscotti at 500 million shekels. Amir Porat, founder and CEO of Biscotti, who will continue managing the company, will receive approximately 250,000 shekels for his shares. The approval process was extended due to concerns about competition, as the fund also owns the French Bakery and the Shamo patisserie chain. However, the authority determined that the companies operate in different market segments: French Bakery sells mainly frozen pastries to bakeries, Shamo targets private customers, and Biscotti supplies desserts and pastries to restaurants, hotels, and patisseries.

This transaction is the largest in the Israeli confectionery sector. Alongside Green Lantern, Migdal, Clal, and Discount Capital will collectively hold 30% of the shares, while the fund will hold 20%. Biscotti operates two factories in Barkan and Bnei Brak and employs 800 workers. Founded 22 years ago, the company owns nine retail outlets across Israel. It reports an annual net profit of about 60 million shekels and annual revenue of approximately 450 million shekels. Biscotti's real estate assets will remain under Porat's ownership.

Green Lantern's vision is to expand Biscotti's offerings to include ready-made pasta dishes and appetizers alongside its existing dessert products, a model popular internationally, especially in the U.S., where companies supply a variety of dishes including desserts to restaurants and catering firms.