Maman Cargo Terminals and Handling (TASE: MMAN) has acquired the UPS Israel franchise for NIS 146 million. As part of the deal, Maman will pay NIS 100 million to Chen Lamdan and the Livnat families, who own OPSI (International Handling) Ltd., the authorized services contractor for UPS in Israel. The Livnat family also controls Maman through Taavura Holdings Ltd.
OPSI, founded in 1994, operates under the UPS label, and has 900 employees. The acquisition is a strategic change for Maman, which will help the company in its bid in the tender for renewing cargo handling at Ben Gurion Airport in 2014.
Maman chairwoman Nehama Ronen said, "This deal fills a gap in Maman in the logistics terminal sector, enabling the company to compete against leading international deliveries companies."
Maman operates the Ben Gurion Airport cargo terminal, and owns logistics operations, but it suffers from missing links in the delivery chain and has no foreign activity. Maman CEO Opher Linchevski said, "The deal is part of the consolidation of the delivery chain at international delivery companies."
Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2012
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