Dutch retail chain SPAR will open its first store in Israel in the early months of 2024. The first store in the chain will be in Kfar Saba at the corner of Horovitz and Hapoel Street, sources close to the matter inform “Globes.”
NIS 10 million will be invested in the 2,500 square meter store, which will be close to branches of Shufersal, Rami Levy, Shuk Ha’Ir and Yeinot Bitan (which has not been converted into a Carrefour store). The store in Kfar Saba was until 2015 a branch of Shufersal and then Concorde.
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Globes has also learned that SPAR Israel CEO and owner of the Israel franchise Amit Zeev is in talks with real estate companies about opening additional branches in the country, especially large stores. SPAR Israel will sell well known Israeli brands like Strauss, Tnuva and Osem-Nestle as well as SPAR products.
Amit Zeev signed an agreement to bring SPAR to Israel 14 months ago, just six weeks after stepping down as Yeinot Bitan CEO, during the process by which it was converting stores into outlets of French retail chain Carrefour. Several months later he signed an agreement with Shufersal in which the Israeli chain would have a 19.9% stake in the Israeli SPAR franchise while Zeev retained 80.1%. The partnership has not yet been approved by the Israel Competition Authority.
Operating through local franchises SPAR has 14,000 stores in 48 countries with 15 million customers per year. 2022 revenue was €43.5 billion.
SPAR Israel declined to comment on this report.
Published by Globes, Israel business news – en.globes.co.il – on September 5, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
