The Clal concern is about to acquire Yotvata Dairies. The
transaction will amount to about NIS 100 million, most of it
consisting of investment in the dairy itself, while part will be
paid to Kibbutz Yotvata, presently holding 100% of the Dairies.
Meir Laser, general manager of Clal Industries, said today that
the acquisition would take place as part of Clal's strategy of
entering into the foodstuffs field. Laser added that Clal's reasons
for acquiring the Dairies are related to "the quality of the
products, the quality of the Dairies as a whole and the quality of
the people at Yotvata".
Eli Shoval, general manager of the Yotvata Dairies, today reported
that the Dairies are Israel's leader in carton-packed drinking
chocolate, marketing, inter alia, various types of yoghourt and
sweet dairy products.
Shoval refused today to disclose Yotvata's financial data, but did
state that last year the dairies had sold products manufactured
from 25 million litres of milk.
He added that the holdings were being sold to Clal due to the
fact that the Dairies are the principal source of livelihood of
Kibbutz Yotvata, which accordingly wants to spread the risk.