Teddy Sagi Group's Layam has acquired from Zim, the logistics center complex that it operates in Haifa Port, for about NIS 40 million. To date, Layam has leased the area from Zim, which it uses for storage and supply operations for equipment for ships at the ports, as well as for storing and conveying duty free products to the various areas that it operates. Three months ago, Teddy Sagi Group acquired its duty free operations and Layam from the Sakal family, merging the overall operations into Layam, after the acquisition.
The logistics center operated in Haifa Port by Layam covers about 15,000 square meters, with about 5,000 square meters of buildings. Layam currently uses part of the center's land, and will consider bringing in additional operations to take advantage of the area. Layam has in recent years leased the area from Zim, and after becoming part of the Teddy Sagi Group, decided to take advantage of the option of adding a major asset to the company.
Layam CEO Shay Tangi said, "Acquisition of the logistics center is a significant long-term move for us, and has been carried out as part of the new activities strategy. After the acquisition, we can expand the company's activities and take better advantage of the area of the logistics center."
Three months ago, the Teddy Sagi Group acquired the duty free operations and Layam from the Sakal family and following the acquisition the overall operations were merged into Layam. Layam's current duty free operations include several duty free stores at Ben Gurion International Airport, duty free stores in various Israeli ports, the duty free store for diplomats in Tel Aviv, duty free stores on passenger ships and supply of duty free products to various organizations such as: airlines, UN forces, and commercial bodies.
As part of its maritime operations, Layam supplies equipment and goods to ships anchored at Israeli ports and is one of the most important suppliers in this field in the entire Mediterranean Sea region. Layam competes with similar companies operating in Mediterranean ports, mainly in Cyprus, Greece and Turkey. In addition to the logistics center in Haifa, Layam operates another logistics center in Ashdod as well as warehouses in other ports.
Published by Globes, Israel business news - en.globes.co.il - on February 25, 2019
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