The gas station chain is buying control of the refrigerated and frozen foods company Kavo Zan for NIS 120-130 million.
Gas station company Dor Alon Energy Israel 1988 Ltd. (TASE: DRAL) announced that it will purchase a 75% stake in Kafu Zan Food Industries for NIS 120-130 million.
Kafu Zhan manufactures, markets, distributes, stores and transports frozen and chilled food products. The company is controlled by Rami Shemesh, who owns a 60% stake in Cavo Zan, while CEO Yaniv Kosh owns the remaining 40%.
When the deal is completed, the company will pay NIS 90-100 million – NIS 29-31 million to Kavo Zan and NIS 60-70 million to the selling shareholders in three equal installments after 12, 24 and 36 months, Dor Alon said. From the expiration date.
According to reports, Kafu Zhan's future annual revenues are expected to approach NIS 600 million.
Dor Alon, controlled by Moti Ben-Moshe's Alon Blue Square, develops, builds and operates gas stations and currently operates 157 Alonit and Super Alonit stores as well as the AM:PM retail outlet chain.
Published by Globes, Israel Business News – en.globes.co.il – on June 19, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
Moti Ben Moshe Credit: Tamar Matzavi
