The Fox group joins the strike against the legal revolution.
Mall "Mol Zikrhon" in front of Zikrhon Ya'akov. / Yoav Itiel
Harel Wiesel expands to Australia: Retailers, a subsidiary of Fox, reported today to the stock exchange that it has signed agreements to acquire ownership of the RPG chain, which operates 33 Nike stores in Australia and 7 Nike stores in New Zealand, as well as 11 Samsung stores in Australia.
Following the company's report on negotiations last month, the purchase agreements were signed today.
Retailers will pay the RPG chain 50 million dollars.
Upon completion of the transaction, Retailers will own 92.5% of the Australian company (through a Dutch subsidiary) and the minority shareholders will own 7.5% of it.
The RPG Group began operating in 2011. The main offices of the RPG Group are located in the city of Melbourne, Australia, and as of the date of the report, the group employs approximately 1,105 people.
The main activity of the group is Nike stores in New Zealand and Australia as well as Samsung stores.
In addition, in July 2023, the group launched an online trade site for the sale of toy products from the toy giant Mattel.
RPG's revenue turnover and net profit (in Australian dollars) for the year ending July 1, 2023 amounted to approximately 174,575,557 (approximately $113 million) and approximately 16,034,304 (approximately $10 million) respectively, without the results of the activity of the trade website (Mattel) which was launched in July 2023.
Harel Wiesel.
Expanding to Australia/Dima Taliansky
Completion of the transaction is subject to the existence of conditions precedent within 90 days from the date of signing the agreements, with each party having the option to extend this date by an additional 45 days, including obtaining the consent of the main lessors as defined in the agreement, and the consent of Nike and Samsung.
According to the company's estimation, the expected investments in the new company, during the first 5 years, are in the amount of about 35-55 million Australian dollars and mainly in the construction/renovation of Nike stores.
Attorney Aya Ben David Ashbel, the Fox Group's legal advisor, represented the company in the transaction accompanied by the Australian law firm ABL.
Tomer Chapnik, CEO of Retailers: "The transaction is a significant milestone in the realization of the company's strategy, to expand its international activities and share The operation with Nike to other territories in the world, beyond the existing activity in operating Nike stores in Israel, Canada and Europe."
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