It also signed a NIS 1.2 million contract to export 70,000 honey cakes to Kimhi AM Marketing Agencies, which specializes in marketing kosher food in Canada.
Abadi Bakery has signed a NIS 5 million deal with Gefen of the US, which specializes in marketing food to kosher supermarket chains. Abadi Bakery will export 350,000 honey cakes in advance of Rosh Hashana.
Abadi Bakery has also signed a NIS 1.2 million contract to export 70,000 honey cakes to Kimhi AM Marketing Agencies, which specializes in marketing kosher food in Canada.
Abadi Bakery CEO Yoram Abadi said under the contract with Gefen, his company would export 350,000 honey cakes under the Gefen label, which would be sold in 476 sales points across the US, mostly in New York, New Jersey, Los Angeles, and Miami. Abadi Bakery invested $300,000 in setting up a special production line for honey cakes.
Abadi Bakery’s domestic sales totaled NIS 60 million in 2004, and it expects 20% growth this year.
Published by Globes [online], Israel business news - www.globes.co.il - on July 26, 2005