Dor Alon buys 75% stake in Kafu Zan

The fuel station chain is shopping for management of the Kafu Zan chilled and frozen meals firm for NIS 120-130 million.

Fuel station firm Dor Alon Vitality in Israel 1988 Ltd. (TASE: DRAL) has introduced that it’s shopping for a 75% stake of Kafu Zan Meals Industries for NIS 120-130 million.

Kafu Zan manufactures, markets, distributes, shops and transports frozen and chilled meals merchandise. The corporate is managed by Rami Shemesh who holds a 60% stake in Kafu Zan, with CEO Yaniv Kosh holding the remaining 40%.

Dor Alon stated that when the deal is accomplished the corporate can pay NIS 90-100 million – NIS 29-31 million to Kafu Zan and NIS 60-70 million to the promoting shareholders in three equal funds after 12, 24, and 36 months, from the date of completion.

In accordance with studies, future annual income of Kafu Zan is anticipated to be near NIS 600 million.

Dor Alon, which is managed by Moti Ben-Moshe’s Alon Blue Sq., develops, builds and operates fuel stations and at the moment operates 157 Alonit and Tremendous Alonit comfort shops in addition to the AM:PM chain of shops.

Revealed by Globes, Israel enterprise information – en.globes.co.il – on June 19, 2024.