Sources inform ''Globes'' that Fishman Holdings is in talks to buy out its partner in Toys-R-Us Israel, Leon Koffler. The parties own the franchise in equal shares.
Toys-R-Us Israel, which has 22 outlets, has been a takeover target by many retailers, and Koffler has held talks with a number of potential buyers. He has now apparently decided to sell his stake to his partner. The company has a turnover of NIS 220 million an estimated company value of $12 million.
Israel's toy market is estimated at NIS 800 million to NIS 1 billion a year, including children's multimedia products, but not including infant equipment. Toys-R-Us Israel and Alon Israel Oil Company Ltd. subsidiary Kfar Hashaashuim Ltd., with 75 stores mainly operated by franchisees and an annual turnover of NIS 220 million, dominate the market. A third player is Red Pirate Ltd. with eight stores.
The parties were unavailable for comment. Eliezer Fishman is the controlling shareholder in “Globes”.
Published by Globes [online], Israel business news - www.globes-online.com - on December 13, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007