Yad Mordechai plans to expand its honey business into health and life-style products.
Elite Industries will acquire 51% of Yad Mordechai Apiary of Kibbutz Yad Mordechai at NIS 19 million company value.
Yad Mordechai plans to expand its honey business into health and life-style products. The connection with Elite is intended to enable Yad Mordechai Apiary to realize its development plans in the honey market. The company will first aim at the youth market, and developed a range of branded products in the image of Winnie-the-Pooh, in cooperation with Disney.
Israel's honey market for the Rosh Hashana holiday season is worth NIS 60 million – half of total annual sales. 3,000 tons of honey are sold in Israel annually, worth NIS 120 million. Yad Mordechai Apiary has an estimated NIS 50 million in sales a year, about 40% of the market.
Published by Globes [online] - www.globes.co.il - on July 24, 2002