At the end of the first quarter this year, the Apax Partners investment fund and Mivtach Shamir Holdings Ltd., controlled by Meir Shamir, completed one of the biggest and most successful deals in Israel in years by selling their controlling interest in Tnuva Food Industries Ltd. to Chinese company Bright Food for NIS 8.6 billion, thereby making a profit in the billions of shekels…Full Article: Globes Sept 2015

Key Points

  • In 2015, Bright Foods acquired an additional 20.7% stake in Tnuva from Mivtach Shamir, an Israeli-based investment company.
  • In May 2014, Bright Food acquired a 56.1% stake in Tnuva from Apax Partners. Apax Partners is a London-based private equity firm.

ChinaAg Comments

  • In June 2015, Bright Dairy announced it will spend as much as CNY 9 billion (US$1.45 billion) to purchases parent’s controlling stake in Israel’s Tnuva Food.
  • In February 2015, Bright Food Group was seeking to raise its stake in Tnuva to 70% for approximately US$1.29 billion by April 2015.
  • In May 2014, Bright Food Group purchased a 56% stake (~US$2.5 billion) in Tnuva.
  • In February 2014, Bright Food Group (parent company of Bright Dairy & Food) and Citigroup were investigating (e.g. due diligence) whether to purchase (US$2.55 billion) Tnuva Food Industries.
  • Bright Dairy & Food, a Shanghai-based subsidiary of Bright Food Group produces pasteurized milk, fresh milk, yoghurt, ultra-high heat pasteurized milk, milk powder, butter and cheese, and fruit juices. It is one of the largest dairy production and sales companies in China.
  • Tnuva, Israel’s largest food manufacturer and distributor, produces frozen pastries, cheese, and other dairy products.

Similar Posts by ChinaAg

Spread the word. Share this post!