Sources inform ''Globes'' that Gad Dairies Ltd. has begun preparing a prospectus for a possible IPO on the Tel Aviv Stock Exchange (TASE). Deloitte-Brightman-Almagor estimated the company value at $50 million. Gad Daries has an estimated turnover of NIS 200 million.
The sources added that Gad Dairies has signed a contract with one of the largest distributors in the US ahead of the company’s entry into the US market under a new brand tailored for it.
Last year, Tara Agricultural Producers Cooperative Society in Nahalat Izhak Ltd. (Tara Dairies), under its new owners, Central Bottling Co. (Coca-Cola Israel), was in talks with Gad Daries for possible cooperation. Tara is seeking a boutique dairy in order to enter the high-end dairy market.
Gad Dairies was founded in 1980. It is owned by the Cohen family, and run by managing director Ezra Cohen, a fourth-generation dairy farmer. The company produces over 70 types of cheese and specialty foods. It is Israel’s fourth largest dairy company, and specializes in salty, Italian, and goat cheeses. It supplies cheeses to the local franchises of fast food chains Sbarro, Domino's Pizza, and Pillsbury Company.
Published by Globes [online], Israel business news - www.globes.co.il - on August 10, 2006
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