Carrefour to be IKEA’s neighbor on Ashdod site
Fewer than a 7 days right after it was described that Ari True Estate (Arena) Financial investment (TASE: ARIN) had signed an MOU to sell fifty percent of its holdings in 110 dunams (27.5 acres) of land in close proximity to Ashdod to JLTV and the Fischer-Bronfman Group, franchisees of Swedish household furnishing chain IKEA, it now emerges that IKEA’s neighbor on the website will be French retail chain Carrefour.

The land, near to the southern entrance to Ashdod and around the railway station, is zoned for professional and industrial use. It is not still recognized how considerably Electra Purchaser Products and solutions will make investments in setting up the Carrefour department on the web site, but the enterprise claimed to the Tel Aviv Inventory Exchange yesterday that the average gross expense of adapting a Yeinot Bitan retail outlet to the format of Carrefour will be some NIS 3 million.




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Yeinot Bitan symptoms Carrefour franchise arrangement







Last week, Electra Consumer Solutions, which holds the Yeinot Bitan supermarket chain (which incorporates the Mega chain), signed a 20-12 months franchise agreement with Carrefour, instantly renewable for a even more twenty years, with the possibility of more renewals. Electra Shopper Products’ notice to the Tel Aviv Stock Exchange yesterday mentioned that Yeinot Bitan would rebrand its stores and these of the Mega and Shuk Lamehadrin chains and adapt them to the Carrefour brand name according to a timetable to be agreed between the sides.

The sides have also agreed that in just the upcoming couple months a joint committee will be established up to take a look at the product or service variety and its enlargement, and offer with kashrut limits, pricing, and the timetable for opening the outlets underneath the new manufacturer. The to start with outlets are expected to be converted by the close of 2022, and 90% of the outlets will be converted inside 3 years.

Released by Globes, Israel small business news – en.globes.co.il – on April 11, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


