Fox Group Increases Stake in Israeli Fashion Brand Itay Brands to 63%

Fox Group has expanded its ownership in the Israeli fashion brand Itay Brands to 63% through a new agreement with other shareholders, Itay Arviv and a company owned by Adam Friedler and Ohad Sandler. This deal replaces a previous options agreement and includes updated options that could raise Fox's stake to 76% with a total investment of up to 40 million shekels. Initially, Fox will acquire an additional 7% of Itay Brands shares for 11.5 million shekels, increasing its holding from 56% to 63%, while the other two shareholders will each retain 18.5%.

The new agreement grants Fox two additional options: one to purchase 3% of the shares at a company valuation of 200 million shekels, exercisable between January 2027 and April 2028, and another to buy 10% more at a 225 million shekel valuation, exercisable in January 2027 only, subject to dividend adjustments. If all options are exercised, Fox will invest about 40 million shekels to acquire an additional 20% of the shares, raising its total ownership to 76%.

Harel Weizel, CEO and owner of Fox Group, stated that the agreement reflects the group's confidence in the Itay Brands label and its commitment to continue investing in its development, expanding its operations, and strengthening its market position. He described the deal as a natural continuation of the group's long-term commitment to building a leading and strong brand over the years.