Dudu Otmazgin's exit: Food retail chain Keshet Ta'amim is acquiring the Dudu Otmazgin boutique patisserie chain at a value of NIS 50 million. As part of the acquisition, Keshet Taam acquired control of Dudu Otmazgin and will merge its operations into it, while maintaining the brand as an independent brand. Thus, Rainbow Flavors will have 70% control of the patisserie chain and Otmazgin will have 30%. Otmazgin will continue to serve as the chain's pastry chef.
Keshet Ta'amim, which was established twenty years ago, is a chain that is open on Shabbat and provides a large selection of products from abroad and Israel. Keshet Ta'amim operates 25 branches nationwide and an online website. Dudu Otmazgin has 18 branches nationwide. The chain was founded by Ariel Lecht and is managed by Danny Greenberg. The chain employs about 2,000 people in Israel.
Huge deal: Keshet Ta'amim acquires Dudu Otmagmagazine's patisserie chain, photo: PR
The Dudu Otmazgin patisserie boutique chain was established in 1998 and is spread throughout the country and has become one of the highest quality and leading confectionery chains in Israel. Dudu Otmazgin, CEO and founder of the chain that bears his name, began his career in the field already after his discharge from the army. He began his studies as a pastry chef at the Palmyra Cooking School, and from there moved to Paris to Ecole Lenôtre, Bellout conseil and Ferrandi School.
Dudu Otmazgin commented on the deal, telling Israel Hayom: "It's totally an exit. No one is happier than me. It wasn't in the plans but apparently there is something stronger than us and we made a beautiful and brilliant move with the right people and won. I think it's brilliant from where we can develop and even double and triple the number of branches with special factories for each field. It just makes it better and of course we want to evolve into sand. We will open the first branch in New York in the coming year."
Huge deal: Keshet Ta'amim acquires Dudu Otmagmagazine's patisserie chain,
Keinan Maman, Keshet Ta'amim's Deputy CEO, added, "Keshet Ta'amim as a retail chain is a different supermarket chain from other chains and is itself considered a quality brand in the world of writers. It is differentiated both in terms of products and in terms of shopping experience. When you enter our supermarket, it is a European experience. The merger with Dudu Otmazgin fits in with our strategy because it is an elite Israeli brand, one of the best in Israel if not the best in the confectionery field. We saw eye to eye on the vision for the expansion of the network and the development of the Rainbow of Flavors chain. From there, the connection and synergy is created. We intend to double the number of branches in the coming years, including going abroad.
"We have to go abroad in the coming years", Keinan Maman, Keshet Ta'amim Deputy CEO,
Asked if there is a chance that patisserie products will be sold in the Keshet Ta'amim chain, Maman replied, "We have a sub-chain of urban delicacies called Culinique, where the products are more likely to enter. We want Dudu Otmazgin's brand to be identified with a range of flavors. He is an artist whose every cake is a work of art in itself and he does things perfectly. In addition, he has over half a million followers on Instagram. We want to evict him so that he continues to do the things he does best. He will deal with everything related to the operation of the network."
Dudu Otmazgin, you offer premium cakes at high prices. We are in a period of slowdown, how much is this affecting?
"Did you see that people stopped buying Louis Vuitton? It's the same thing. People haven't given up on their pleasures and this is a cake, not a bag worth thousands of euros. When people see a good cake they will buy, it won't bring people down. In addition, people will continue to hang out and travel abroad. Do you know what happens at Ben Gurion Airport? I haven't seen a slowdown in the economy, if people don't stop flying and vans parking space at Ben Gurion Airport. Even if people talk about slowing down, it may be for a while, but it won't stay. Even if it is a few months that there is a small touch on the wing, after that people move on and continue with their routine . There will always be problems and all kinds of consequences for all sorts of things, but people won't stop the pleasures of life."
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