InterCure Secures 230 Million Shekel Compensation for October 7 Terror Attack Damages
Translated & summarized from Calcalist by baba
InterCure has finalized a 230 million shekel compensation deal for damages from the October 7 terror attack, with its main facility in Nir Oz severely affected. The company’s stock jumped 34% following the announcement, despite long-term declines.
The story in 6 lines · by baba
- InterCure will receive 230 million shekels compensation for October 7 terror attack damages.
- The company initially sued for 300 million shekels and had already received 101 million shekels.
- InterCure’s main facility in Nir Oz was severely damaged, halting production at its subsidiary Kanduk.
- Two Kanduk employees were kidnapped during the attack and later returned safely in prisoner exchanges.
- InterCure’s stock rose 34% to over one billion shekels market value after the settlement news.
- The company reported a net loss of 37 million shekels in 2025, improving from 73 million in 2024.
InterCure, an Israeli cannabis company, has reached a final settlement with the Israel Tax Authority and the Compensation Fund regarding its claim for indirect damages caused by the October 7, 2023 terror attack. The company will receive 230 million shekels in compensation for damages to its fields and facilities. InterCure initially sued for 300 million shekels and had already received 101 million shekels, with an additional 119 million shekels expected from the Income Tax Authority.
One of InterCure's main cultivation sites, located in Nir Oz and controlled by Alex Rabinovich, was severely damaged during the attack. The central growing and production facility of Kanduk, a subsidiary of InterCure, was also heavily impacted and ceased operations. The attack resulted in injuries to many employees, and two Kanduk workers were kidnapped to Gaza but were safely returned to Israel in prisoner exchange deals. Following the attack, the Nir Oz compound served as a base for IDF forces operating in the area during the Gaza conflict.
As of the article's publication, InterCure's stock surged 34% on the Tel Aviv Stock Exchange, reaching a market value exceeding one billion shekels. However, the stock has declined nearly 87% over the past five years. The company reported a net loss of 37 million shekels in 2025, an improvement from a 73 million shekel loss in 2024.
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