Blue Square Israel Ltd. (NYSE: BSI; TASE: BSI) has bought half of online travel agency Nofesh Yashir from ISSTA Lines (TASE: ISTA) for $250,000. Blue Square and ISSTA will also set up a joint company Mega Nofesh Yashir, owned in equal shares, to operate within Blue Square's supermarkets, through Blue Square's marketing, and through the Nofesh Yashir Internet travel services portal and call center.
Blue Square is Israel's second largest supermarket chain, after Super-Sol Ltd. (TASE:SAE;Pink Sheets:SSLTF). The two retailers are battling for market share, launching various campaigns for families, including overseas vacation packages. Last year, Blue Square offered family summer vacations, and later sponsored the musical "Dora", giving customers discount tickets.
Blue Square acting CEO Uri Falach said, "Throughout the world, travel has become one of the services provided by supermarket retail chains and we are proud to lead this trend in Israel."
Published by Globes [online], Israel business news - www.globes-online.com - on January 30, 2008
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