Sources inform “Globes” that Soglowek is examining the acquisition of Burger King Israel.
McDonald’s Israel and Burger Ranch conducted a study to jointly acquire Burger King Israel’s operations, and are now waiting for an answer from the Antitrust Authority.
Soglowek recently acquired a pizza chain and is about to invest $6 million in it.
Soglowek managing director Reuven Maskit told “Globes” that the company was conducting preliminary studies for a possible acquisition of Burger King Israel. “Soglowek is the foundation for creating a much larger concern. We’re considering the acquisition of Burger King Israel, but we haven’t submitted an offer yet. We’re only at the preliminary study stage,” he said.
Soglowek used to be a supplier for Burger King Israel. Tibon-Veal Holdings now supplies meat to the chain.
Soglowek business director Roni Maskit told “Globes” last year that Soglowek planned to join with a major food corporation, as part of it business development plan. “Globes” also reported that the company had negotiated to be sold to Strauss for $110 million. Strauss offered $70 million, and the parties were unable to bridge the difference.
Commenting on the Strauss deal, Maskit told “Globes”, “Forget about that now. Soglowek has been up for sale for 20 years.”
Soglowek’s turnover is estimated at over $100 million.
Published by Globes [online] - www.globes.co.il - on February 18, 2003