After getting into financial difficulties that led to a stay of proceedings, Golan Heights Dairies has been bought by processed fruit and vegetable products company Sanlakol for NIS 33 million.
Sanlakol says that it expects to invest between NIS 5 million and NIS 10 million in Golan Heights Dairies in the coming year. G. Willi-Food International also bid to buy the company. Former Tnuva CEO Arik Shor advised Sanlakol in the purchase. Sanlakol says that it intends to retain Golan Heights Dairies’ employees at all its sites, and to stabilize the company’s business operationally, technologically and commercially. It says it will review existing contracts with suppliers and customers.
Golan Heights Dairies produces retail chain Shufersal’s own-brand dairy products, as well as it own line. A consumer products industry source said that "Shufersal demonstrated with its cash during the receivership period that it is important to it that Golan Heights Dairies should develop and become a large and well-run dairy firm. The cooperation between them will only be enhanced and grow."
Sanlakol was founded in 1940 and was bought by Dov Sheinfeld in 1947. In 1983, the company was floated on the Tel Aviv Stock Exchange. In 1988 it bought Pri-Zeh, and in 1998 it bought preserves factory Yakhin.
Published by Globes, Israel business news - en.globes.co.il - on March 12, 2023.
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