Tnuva to Expands its Poultry Business

by 5m Editor
14 May 2009, at 9:26am

ISRAEL - Food company, Tnuva, is in talks to acquire Hod Hefer.

Globes reports that Tnuva Food Industries Ltd and Ambar Ltd joint subsidiary IT Group Ltd. are in talks to acquire poultry processor, Hod Hefer Ltd, for 30 million shekels (NIS).

Ambar owns Hod Hefer. An acquisition will expand food products company Tnuva's poultry operations.

The likely deal is part of the strategy by Tnuva's owners, Apax Partners and Mivtach Shamir Holdings Ltd, to diversify the company's business, while shutting down unprofitable activities, such as its eggs and fish businesses.

Hod Hefer had a sales turnover of NIS 495 million in 2008, and reportedly had an operating profit of NIS 30 million. Eighty per cent of the company's business is the processing and sale of chicken and turkey products. The company has a slaughterhouse in Emek Hefer and two separate production lines for chickens and turkeys.