Yeinot Bitan to invest NIS 40m in Carrefour conversion

Carrefour credit: Stephane Mahe Reuters
Carrefour credit: Stephane Mahe Reuters

Israeli retail chain Yeinot Bitan will convert 25 supermarkets into Carrefour stores by the end of 2022.

Israeli retail chain Yeinot Bitan will convert 25 supermarkets into Carrefour stores by the end of 2022 at an investment of NIS 40 million. Three of these stores in Tel Aviv, Or Yehuda and Kiryat Gat will be completely new supermarkets. The existing supermarkets that will be converted into outlets of the French brand are all in central Israel including in Tel Aviv, Kiryat Ono, Herzliya, Rishon Lezion, Rosh Ha'ayin, and Ra'anana.

Yeinot Bitan will convert 20 more supermarkets to the Carrefour brand in the first quarter of 2023. All the supermarkets will be designed by Carrefour themselves, according to the international standards of the chain. In the first stage, the branches will operate under the Super brand until the full entry of the chain into Israel but visually the supermarkets will be according to Carrefour's concept.

Yeinot Bitan Group, which includes Mega, has 150 branches, and is the second biggest supermarket chain in Israel. In May 2021, Electra Consumer Products (TASE: ECP) owned by the Salkind brothers acquired control of the Yeinot Bitan Group at a company valuation of NIS 400 million.

In March 2022 Electra Consumer Products reached an agreement with Carrefour to be its Israeli franchisee for 20 years with an option to extend for a further 20 years.

According to National Retail Federation (NRF), Carrefour is the world's seventh largest retail chain with 14,000 branches in Europe, the Middle East, East Asia, and Africa and annual sales turnover of €81 billion. It will be the first international food retail chain to operate in Israel.

Published by Globes, Israel business news - en.globes.co.il - on August 31, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Carrefour credit: Stephane Mahe Reuters
Carrefour credit: Stephane Mahe Reuters
Israeli startup gems 2022 Globes names Finout "Most Promising Startup of 2025"

Cloud cost management solutions company Finout tops the list of Israeli startups most likely to succeed named by 80 local and foreign funds.

Mobileye CEO Amnon Shashua credit: Heinz Troll European Patent Office Mobileye posts strong Q1, reaffirms guidance despite tariffs

The Israeli advanced driving assistance systems company beat analysts' expectations on revenue and met expectations on non-GAAP net profit.

Xtend drones credit: Xtend Sentrycs teams with Xtend to strengthen drone security

The aim of the all-Israeli collaboration is to create a synergy of proven capabilities in a world where drones have become a major threat.

Intel Haifa  credit: Shutterstock Intel layoffs in Israel will benefit rivals

Industry experts agree that Intel staff dismissed in Israel will have no trouble finding work at rivals like Nvidia, as happened during last year's layoffs.

Ministry of Finance Jerusalem credit: Shutterstock Treasury sees Trump's tariffs cutting Israel's GDP growth

Amid the uncertainty that still surrounds the level of tariffs that would ultimately be imposed on Israeli goods, the annual damage to growth is estimated by the Finance Ministry at less than 0.5% of GDP.

French President Emmanuel Macron at the Paris Air Show in 2023 credit: Reuters Israel to scale down Paris Air Show presence

Due to President Emmanuel Macron's antagonism, Israel is reducing its presence at the exhibition, Ministry of Defense International Defense Cooperation Directorate (SIBAT) head Yair Kulas tells "Globes."

Jerusalem court cmplex credit: Zarhy Architects Tenders issued for two huge Jerusalem construction projects

The PFI tenders for the Gan Hotzvim tech campus and the courts complex include grants of NIS 1.7 billion for the winning bidders.

Israel Innovation Authority CEO Dror Bin Innovation Authority chief: Israel top for deep tech investment

Dror Bin told the Globes TECH IL conference that deep tech is the next wave for global tech and the rate of investment in Israel is the world's highest.

Gil Shwed and Nadav Zafrir credit: Menash Cohen With new CEO Check Point beats analysts in Q1

Revenue rose 6.5% and GAAP net profit rose 5% in Nadav Zafrir's first full quarter at the helm.

Tel Aviv light rail credit: Yossi Cohen Rishon Lezion to finance Red Line light rail extension

The Rishon Lezion Municipality will pay for part of the extension by marketing land above the planned underground depot.

Intel Haifa development center credit: Shutterstock Intel to cut 20% of workforce - report

"Bloomberg" reports that new CEO Lip-Bu Tan will announce the layoffs this week.

Healthee team credit: Healthee PR AI healthcare costs management co Healthee raises $50m

Healthee’s benefits and care navigation platform empowers employees and employers to make the most of their health benefits.

Former Shufersal CEO Itzik Abercohen credit: Eyal Izhar Competition Authority summons former Shufersal CEO to hearing

According to the indictment, Shufersal and Itzik Abercohen allegedly made public statements through which he attempted to reach arrangements to raise prices.

Reco founders Ofer Klein, Gal Nakash, and Tal Shapira credit: Elegant Photographics Israeli SaaS security co Reco raises $25m

The Tel Aviv-based company has developed a comprehensive application discovery engine capable of identifying and classifying over 50,000 applications, and providing visibility into an organization’s SaaS ecosystem.

Tel Aviv Stock Exchange credit: Tali Bogdanovsky TASE outperforms global markets in 2025

Boosted by the strong results of Israel's banks, the Tel Aviv Stock Exchange has demonstrated impressive resilience to domestic and foreign upheavals.

Metro credit: Bar Lavi Can Hyundai fill Metro vacuum created by China's exclusion?

The South Korean giant is reportedly eager to enter Israel's infrastructure sector but may not have the resources to dig the Metro tunnels.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018