Did Rami Levy "take the cash", or is it an extortion attempt? - Walla! Of money

Rami Levy, owners of Kofix.

Does it violate the rights of minority shareholders?

They are sure that they are (Photo: Yehats)

Adrian Braska is angry with Rami Levy.

The kibbutznik from Magal, invested his money in Kofix shares, when their coffee for five shekels broke the market and now he feels taken advantage of.

When Barska invested his money, the chain included over 150 branches, 14 "Cofix Bar" branches and 35 "Super Cofix" supermarkets.

Those were the heyday of the chain that broke the coffee market where a cup of "small upside down" cost more than NIS 15.

Then came the downfall and in 2018 Levy purchased the company that ran into difficulties and the horizon looked promising.

But in practice the opposite happened.

Instead of the minority shareholders in Kofix, including Barska, benefiting from the business turnaround, they claim that Levi is depriving them and harassing them.

there were times.

Kofix branch in Dizengoff Center, 2018 (photo: Kofix PR)

Is this how Robin Hood behaves?

"He is perceived by the public as someone who takes care of the weak public and brands himself as such," enraged Barska.

"I expect from a person who presents himself as Robin Hood, that he will not try to take the money and will only do it for himself at the expense of the public. And who is the public that owns Kofix shares? The shareholders are our parents, whose pensions are invested in the stock through the funds and investment houses. On the one hand he sells chicken for the shekel and on the other The other engages his buyers in the Rami Levy network through Copix.

As of today, the stock market "Cofix Group" owns 70% of the "Rami Levy in the neighborhood" chain to which the branches of "Super Cofix", four branches of Little Switzerland, 67 franchised branches of "Cofix" coffee shops and 42% of "Cofix Global" have been converted. It has 310 branches in Eastern Europe.

On the face of it, these are prosperous businesses, but according to Barska, Levy does as he pleases in the company, with a lack of transparency and while infringing on their rights.

As was first published in Vala, for the past year the minority owners of Kofix Group, represented by attorney Ado Kosover, have been waging a struggle against Rami Levy, which culminated about ten days ago, when they turned to the board of directors demanding a meeting of shareholders to discuss measures against Levy, which they claim Trying to take over the company and get rich at its expense. The move comes as a result of the failure of negotiations between the parties for the purchase of the minority shares, negotiations that were ripe for agreements, but were not approved by the board of directors of "Rami Levy Sycamore Marketing".

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Kofix, 2013. The coffee for NIS 5 broke the market.

According to Rami Levy, the allegations against him are unfounded and amount to an attempt at extortion (Photo: Kobi Rubin)

Whose traffic is this?

"What Rami Levy is doing is debauchery," says Barska.

"Anyone who wants to purchase online at Kofix, miraculously arrives at the Rami Levy chain's website, which was done without approval from the shareholders of Kofix and without us receiving compensation for it. Does that sound logical? Today, businesses pay a fortune to receive traffic from other websites , sure and sure in the Corona days when online orders were crazy. So why is Rami Levy doing his house at the expense of the weak public in the country?

"And what about the Kofix customer club?

We had 110,000 members and whoop, it was all deleted.

No more customer club.

zero.

He took the club for nothing, when other companies pay millions for such data.

With Rami Levy, it's cuter, because he uses the club both for the Israel Airline he purchased and for Good Pharm, which he owns.

"Not to mention the stakeholder transactions he makes. He buys goods and services from his supermarket chain and charges Kofix, without anyone being able to see the data. We repeatedly asked to check Kofix's charges and they avoid us. What does he have to hide? Rami Levy knows exactly how

much worth a customer club. He bought an entire airline just to increase his customer club. Rami Levy is committed to settling the claims of the minority. The next step will be the convening of the assembly, which we have not yet received the date on which it will convene, although there are only a few days left. If this does not happen, We are already ready to file a derivative lawsuit and I hope that the authorities will exhaust the law with him."

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• Rami Levi

• Cofix