Electra Consumer Products buys distributor Taga Magam

The company is setting up a computer distribution network.

Electra Consumer Products Ltd. has acquired computer distributor Taga Magam Ltd. for NIS 25 million. Taga Magam markets IBM, Lenovo, and other brands.

Electra Consumer Products CEO Yaki Vadmani said that the company planned to establish or acquire a computer distribution network. He added that the company was reviewing whether to continue operating the Sensor Ltd. chain of electronics stores.

Electra Consumer Products recently bought the Israeli distributor of General Electric Co. (NYSE:GE) from Isfar Home Tech (Sony Israel). Electra Consumer Products suspended the brand’s activity because of a dispute with US manufacturers.

The Electra brand will be restructured at a cost of NIS 20 million. The rebranding will take until mid-2008, and include all of the company’s product lines, including air conditioners, ovens, refrigerators, washing machines, and dishwashers. The brand currently has NIS 1 billion in annual sales.

Published by Globes [online], Israel business news - www.globes.co.il - on August 13, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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