FIMI buys ingredients co Galam

Ishay Davidi

Private equity firm FIMI is paying NIS 290 million to buy Galam from Kibbutz Ma'anit and the Bereshit fund.

Private equity firm FIMI Opportunity Funds, controlled by Ishay Davidi, announced this morning that it was buying Galam outright from Kibbutz Ma'anit and the Bereshit fund for NIS 290 million.

Galam produces specialty ingredients for the food and non-food industries. It has three main activities: production of sweeteners, chiefly fructose produced from sugar; production of starches for the food and paper industries; and trading in food ingredients.

According to FIMI's announcement, Galam's has annual sales of NIS 450 million and EBITDA of 10% of sales.

Galam sells in 40 countries, with 55% of its revenue coming from Israel and the remainder from the rest of the world. It was founded in 1940, and employs 210 people at the factory at Kibbutz Ma'anit and about 50 others in two subsidiaries in Germany and Spain. FIMI was founded in 1996 as Israel's first private equity fund, and with capital of $3.2 billion it is Israel's largest investment fund.

Published by Globes [online], Israel business news - www.globes-online.com - on October 10, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Ishay Davidi
Ishay Davidi
Twitter Facebook Linkedin RSS Newsletters גלובס Capital  Markets Conference 2017