The kibbutzim buyers organizations have begun to consider selling their 26% stake in Tnuva Food Industries Ltd. A month ago, a meeting of 12 kibbutzim took place, at which the kibbutz heads decided that a deadlock had been reached as a result of the delay in the appointment of someone to head the Israeli office of Bright Food, which owns a controlling interest in Tnuva, and a vice-chairman of Tnuva to replace Yossi Shahar, who is stepping down…Full Article: Globes June 2017
- In the 18 months following Bright Food’s controlling interest acquisition, Tnuva Foods valuation had reportedly dropped from NIS 8.6 billion [~USD 2.12 billion] to NIS 4.5 billion/5 billion [~USD 1.3 billion]
- In March 2016, disappointed with the performance with Israeli’s Tnuva, Shanghai’s Bright Food was pushing for layoffs and mergers of various logistical departments in order to streamline costs. Tnuva Food is controlled by Bright Food Singapore, a subsidiary of Bright Food Group.
- In September 2015, Bright Food stated the company was not satisfied with the performance of Tnuva and believed its value was overstated.
- 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 2015, Bright Foods acquired an additional 20.7% stake in Tnuva from Mivtach Shamir, an Israeli-based investment company.
- In May 2014, Bright Food Group purchased a 56.1% stake (~US$2.5 billion) in Tnuva. Bright Food acquired the 56.1% stake in Tnuva from Apax Partners, a London-based private equity firm.
- 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, yogurt, 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.
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