Bennett Kaplan seen buying New-Pharm branches

Bennett Kaplan  photo: Eyal Izhar
Bennett Kaplan photo: Eyal Izhar

Former Globus Max head Kaplan intends to set up a new pharmacy chain called WePharm

Pharmacy chain New-Pharm has informed bidders for the chain that it is at the draft contract stage in negotiations with Bennett Kaplan for the purchase of eleven New-Pharm branches, who intends to set up a new chain. Nisanov Brothers subsequently withdrew its bid. Itzik Nisanov told "Globes": "We decided to remove our candidacy for buying nine New-Pharm branches following more in-depth examinations we carried out in relation to the deal."

Bennett Kaplan, who until recently headed the Globus Max cinema chain and held a 25% stake in it, is emerging as as the party likely to buy eleven New-Pharm branches and set up a new chain. Kaplan has even registered a name for the chain in the event that he succeeds in buying the branches: WePharm. Kaplan has ties with mall owners from the time he managed the cinema chain, and they are therefore expected to support his move, although they can place a veto on real estate that they rent to New-Pharm.

The deal is expected to cover twelve branches in total: nine that the Antitrust Commissioner required to be sold as a condition for permitting supermarket chain Shufersal Ltd. (TASE:SAE) to buy New-Pharm, two branches that New-Pharm added in order to make the deal more attractive, and a branch of Shufersal itself that was also included in the AntitrustCommissioner's decision.

Published by Globes [online], Israel business news - www.globes-online.com - on October 29, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Bennett Kaplan  photo: Eyal Izhar
Bennett Kaplan photo: Eyal Izhar
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