Paz Oil Company CEO Modi Ben-Shach: The merger had a two-fold long-term aim: organizational and marketing.
Paz Oil Company announced yesterday that it will merge its Yellow convenience store chain into the group. Yellow, which has 43 stores, has been operating as an independent company, fully owned by Paz. The merger will take effect on June 1.
Paz CEO Mordechai (Modi) Ben-Shach said the merger was part of Paz’s strategic decision to become a retailer of fuels, food products, and roadside accessories. Yellow will be merged with Paz’s retail and operations division.
Ben-Shach added that the merger had a two-fold long-term aim: organizational and marketing.
Yellow was founded in 1999, and Paz stated it would have 70 stores by the end of 2003.
Published by Globes [online] - www.globes.co.il - on April 8, 2003