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Israel’s Strauss looking to buy Tami4 Water Company
Israeli food company Strauss Group has said that it is in talks to acquire Tana Industries, which owns Tami4 – a maker of purifier systems for drinking water in homes and offices. According to Israeli newspapers, the deal would be worth $80-100m.
Tana is held by several investors, the largest of which is the FIMI mezzanine fund, which owns 41%. The company makes hot and cold water systems that are filtered and purified, as well as coolers and sub-sink systems. Strauss said the acquisition would be made through a subsidiary in the field of water.
The Strauss Group is Israel’s second largest food and beverage company. Over the past few years, it has become an international corporation with a steadily growing part of its business conducted outside of Israel. The group employs 11,600 people and operates 19 production sites in 16 countries.
In the last six years, the group has consistently achieved growth that more than doubled the volume of its business during that period, generating $1.7bn in turnover at the end of 2008, of which 47% came from international activities.
The group is built around three core businesses:
- Strauss Israel, which focuses on two major consumption trends: Health & Wellness and Fun & Indulgence.
- Strauss Coffee, which incorporates the coffee activity of the group and is fast becoming a significant global company
- Strauss North America, which incorporates the Mediterranean dips and spreads company Sabra, with product lines that target the health and wellness trend, and the Chocolate Bar chain Max Brenner that targets the fun & indulgence trend.
In addition to these businesses, Strauss is engaged in the start-up H2Q water project, which has recently completed its technological development phase.
The group also collaborates with a number of leading multinationals – Danone, PepsiCo and Lavazza – and is traded on the Tel Aviv 25 Index, which includes the largest public companies in Israel.
Source: Israel National News
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