The owners of preserved meat and sausage manufacturer Soglowek are examining a possible sale of the company. Sources inform ''Globes'' group that there were contacts last month between Soglowek and the Strauss group.
In the negotiation with Strauss, Soglowek's owners set company value at $110 million, while Strauss was willing to pay $70 million. Soglowek siblings Hanan, Ami and Yael are represented by Adv. Ram Caspi.
Osem-Nestle, through subsidiary Hod Lavan and Tnuva through subsidiary Tiv Tirat Zvi, both hold significant shares of the meat sector. Strauss is one of the few entities in Israel for whom acquiring Soglowek is a strategic opportunity.
Soglowek managing director Reuven Maskit said in response: "There was never any such thing." Strauss managing director Jacob Levy said "I won't deny there were contacts from Soglowek's side, but strategically speaking, we don't think we have any value added by entering the meat sector. The only reason we might acquire the company would be if we got it at a bargain price." Israel's two other major food companies confirmed Soglowek had contacted them as well.
Soglowek is owned by Ami Soglowek, Hanan Soglowek, Yael Soglowek-Ander and Reuven Maskit. Each of the partners owns 25% but there is a long-standing dispute between them. Company sources told "Globes" that Maskit has been authorized to handle the sale.
Soglowek sales were hurt this year by reports in newspaper ''Yediot Ahronot'' that claimed tons of meat at the company's Shlomi plant were repackaged with a different expiration date, to extend shelf life.
Published by Globes [online] - www.globes.co.il - on 15 May 2002