Friday 14 June 2024
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Israel’s supermarket giant to acquire 20 percent stake of Cofix coffee chain

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MILAN – Israel’s supermarket giant Rami Levy is buying 20 percent of the Cofix. The deal also includes a two-year option for Levy to increase its stake to 50.01 percent, Cofix said in a statement on Monday.

The sale is part of Cofix’s efforts to return to profitability. Both companies are headquartered in Israel and listed on the Tel Aviv Stock Exchange.

The deal which values the coffee shop operator at ILS 105.00 million (USD 32.2 million).

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