search
Front > News

Dor Alon buys 75% stake in Kafu Zan

Moti Ben-Moshe credit: Tamar Matsafi
Moti Ben-Moshe credit: Tamar Matsafi
19 Jun, 2024 17:59
שלח תגובה במיילMaya Levin

The gas station chain is buying control of the Kafu Zan chilled and frozen food company for NIS 120-130 million.

Gas station company Dor Alon Energy in Israel 1988 Ltd. (TASE: DRAL) has announced that it is buying a 75% stake of Kafu Zan Food Industries for NIS 120-130 million.

Kafu Zan manufactures, markets, distributes, stores and transports frozen and chilled food products. The company is controlled by Rami Shemesh who holds a 60% stake in Kafu Zan, with CEO Yaniv Kosh holding the remaining 40%.

Dor Alon said that when the deal is completed the company will pay NIS 90-100 million - NIS 29-31 million to Kafu Zan and NIS 60-70 million to the selling shareholders in three equal payments after 12, 24, and 36 months, from the date of completion.

According to reports, future annual revenue of Kafu Zan is expected to be close to NIS 600 million.

Dor Alon, which is controlled by Moti Ben-Moshe's Alon Blue Square, develops, builds and operates gas stations and currently operates 157 Alonit and Super Alonit convenience stores as well as the AM:PM chain of retail outlets.

Published by Globes, Israel business news - en.globes.co.il - on June 19, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

Moti Ben-Moshe credit: Tamar Matsafi
Moti Ben-Moshe credit: Tamar Matsafi
Accountant General Yali Rothenberg credit: Rafi Kutz Israel's fiscal deficit continued to narrow in March

Israel's fiscal deficit narrowed in the twelve months to the end of March 2025, for the sixth consecutive month, Ministry of Finance accountant general Yali Rothenberg reported today.

Arkia credit: Arkia Arkia cuts Tel Aviv - New York April fares

Arkia has cut fares at the last minute, a time when prices usually soar even higher, according to the pricing method used in the industry.

Bank of Israel Governor Prof. Amir Yaron credit: Dani Shem Tov Knesset Spokesperson BoI Governor: US tariffs could push up inflation in Israel

Prof. Amir Yaron tells "Globes" that there is a risk that the new tariffs will cause inflation to rise in the US, with a knock-on effect for Israel.

US President Donald Trump and Prime Minister Benjamin Netanyahu April 7, 2025 credit: Avi Ohayon, Government Press Office Netanyahu fails to persuade Trump to remove tariff on Israel

Asked by reporters whether Israel would be exempted from his tariffs policy, US President Donald Trump replied, "Maybe not. Don’t forget we help Israel a lot."

FBI to investigate Nakash Group Israel CEO

The complaint against Avi Hormaro was filed with the FBI offices in Miami, Florida, where many of the group's companies are incorporated, "Globes" has learned.

Bank of Israel credit: Shutterstock Israel's forex reserves fell in March

Israel’s foreign exchange reserves at the end of March 2025 fell to $218.821 billion, a decrease of $1.433 billion from their level at the end of February, the Bank of Israel reports.

Bank of Israel Governor Prof. Amir Yaron credit: GPO BoI keeps rate unchanged, cuts growth forecast

The Bank of Israel is concerned about inflation, the escalation of the war in Gaza, which has raised Israel's risk premium, and the turmoil on global markets set off by the trade war.

Eilat Ramon Airport Credit: Sivan Farag Eilat Municipal Spokesperson Russian airline to kick-start int'l flights from Eilat's Ramon airport

Russian airline Red Wings is to launch direct flights between Eilat's Ramon airport and Moscow and Sochi in Russia starting June 12.

High-tech credit: Shutterstock 8,300 tech employees left Israel after start of war

Amid increased relocation, Israel's tech workforce has contracted for the first time in over a decade, the Israel Innovation Authority reports.

Donald Trump credit: Shutterstock Israel can't escape impact of tariffs

Even if Israel obtains relief from the tariff imposed on it by US President Trump, it will feel the global effects of the trade war, analysts say.

Shekel versus US dollar credit: Tali Bogdanovsky US market slide shakes shekel

The shekel weakened significantly against both the US dollar and the euro at the opening of foreign exchange trading today.

Arik Faingold credit: Nati Levi Israeli autonomous frontend co AutonomyAI raises $4m

Led by Arik Faingold, the founder of cybersecurity unicorn Pentera, AutonomyAI offers a platform that learns and understands the full organizational context and generates code that can be deployed directly to the production environment.

British Airways aircraft credit: Shutterstock/Jarek Kilian Tel Aviv - London fares to fall as British Airways resumes flights

From June there will be 20-32 weekly flights operated on the popular Tel Aviv - London route by foreign airlines - British Airways, Wizz Air and easyJet.

Partner Partner forms int'l business diivision

The division will be headed by former Bezeq International VP Global Business Nissan Arieh.

Caesarstone kitchen credit: Caesarstone Caesarstone bucks Nasdaq as tariffs boost potential

The Israeli quartz countertop manufacturer company has fallen on hard times due to Chinese rivalry but tariffs could boost its revenue.

ZIM ship credit: ZIM Trump's tariffs torpedo ZIM's share price

ZIM's share price fell 16.4% on Wall Street on Thursday and a further 7.2% on Friday, closing with a market cap of $1.5 billion, wiping out all its gains in 2025.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018