Cooking utensils manufacturer Food Appel announced today (Thursday) the acquisition of the world's largest Judaica company, Art Judaica, from founder and owner Gabriel Eckstein, for NIS 40 million. This is part of an expansion into additional areas of interest, and following the entry of Leumi Partners' investment arm into the company.
Art Judaica was founded by Gabriel Eckstein in 1989 in Neve Tzedek, and today is located in its new home in Yavne. The company has set itself the goal of operating wherever there are Jews around the world, so that they can fulfill the commandments and spread Judaism and the continuity of tradition, by enabling every Jew to purchase Judaica products at popular prices.
During the decades that the company has been active, ART's employees have devoted night and day to designing, manufacturing and marketing a huge variety of over 4,000 items that will enable Jews everywhere to get closer to tradition. In addition, each year they innovate and add about 1,000 new products which are sold at 2,000 points of sale worldwide.
Food Appel, owned by Eyal and Nir Sharon, is one of the leaders in the kitchen utensils market in Israel, specializing in designing, importing and marketing unique and high-quality series of cookware using the most advanced technologies in the world. The products are marketed at hundreds of points of sale, specialized and professional stores, workers' committees, consumer clubs and various trade sites, alongside chain stores bearing the brand name. In addition, the company operates an independent website that is considered the largest in its field.
"To spread Judaism in Israel and around the world"
Over the past few years, Food Epile has invested considerable resources, financial and design, in order to differentiate itself and offer customers what its leaders call "gastronomic passion", content with added value and high quality products that express the company's vision: to inspire and creativity among its customers, encourage them to adopt a healthy lifestyle (even when choosing kitchen utensils) and bring joy and joy of creation through a cooking experience in a wide range of advanced dishes, Meets all kitchen needs.
About a year ago, Leumi Partners (Bank Leumi's investment arm) invested NIS 50 million in Food Appil for the company's expansion in Israel, departure to European countries, and mergers and acquisitions of companies in various fields, such as the acquisition of Art Judaica, which is the first transaction since Leumi's investment in the company.
The cutting edge of the industry. Eyal Sharon, Photo: Food Appeal PR
Eyal Sharon, CEO of Food Dark, noted: "We have been following the field of Judaica for many years. " Art Judaica is considered to be at the forefront of the Judaica industry in the world, with a reputation of decades, and we will make every effort to promote and improve society and continue to spread Judaism, which is so important in these difficult times in Israel and around the world."
Food Epil was represented in the transaction by Adv. Barry Raz and Adi Aris of Bari-Raz & Co., and Art Judaica was represented by Adv. Tali Yaron-Eldar, Roni Inbar and Amos Maimon of Yaron Eldar-Feller-Schwartz.
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