Apax Partners, managed by Zehavit Cohen, is in advanced negotiations to buy the Max Stock retail chain at a value of NIS 250-300 million. The chain's sales turnover is estimated at NIS 360 million.
The Max Stock chain has 41 outlets in Israel, with over 10,000 different items in each store. Among other things, the chain sells low-priced furniture, back-to-school accessories, disposable cutlery, clothing, and textiles.
Founded by Uri Max, Max Stock has a strategy and management structure similar to those of discount food chains.
It was reported a year ago that Apax was in advanced negotiations to acquire fashion chain Renuar, but no agreement was reached. Several years ago, the fund also negotiated with the Fox-Wizel Ltd. (TASE: FOX) fashion group. These negotiations were also ultimately unsuccessful.
Apax sold its investment in Tnuva Food Industries Ltd. to Chinese corporation Bright Food at a company value of NIS 8.6 billion.
Published by Globes [online], Israel Business News - www.globes-online.com - on March 16, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017
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