Bingo Owners Negotiating Major Investment



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    Bingo Owners Negotiating Major Investment

    Apax Partners (Israel) Ltd., a subsidiary of London-based private equity firm Apax Partners Worldwide LLP, is negotiating to buy a 50% stake in Israel-based Haredi supermarket chain Osher Ad according to a valuation of over $240 million, one person familiar with the matter told Calcalist Sunday on condition of anonymity • Full Story

    calcalistech.com

    Apax Partners (Israel) Ltd., a subsidiary of London-based private equity firm Apax Partners Worldwide LLP, is negotiating to buy a 50% stake in Israel-based Haredi supermarket chain Osher Ad according to a valuation of over $240 million, one person familiar with the matter told Calcalist Sunday on condition of anonymity.

    Known for its sprawling, wide-aisled stores and its low-cost, family sized stock, Osher Ad is a supermarket chain targeting ultra-orthodox clientele. It was founded in 2009 by three former executives of Tel Aviv-listed Shufersal Ltd., Israel’s biggest supermarket chain. Today, Osher Ad operates 18 local branches, as well as a Brooklyn branch, operating under the English brand name Bingo.

    Forecasts put the chain’s annual revenues for 2018 at $1.7 billion (NIS 4 billion), and profits at $24 million (NIS 90 million). Osher Ad’s EBITDA is expected to be $37.5 million (NIS 140 million).

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    Bingo Owners Negotiating Major Investment



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