Lower than every week after it was reported that Ari Actual Property (Enviornment) Funding (TASE: ARIN) had signed an MOU to promote half of its holdings in 110 dunams (27.5 acres) of land close to Ashdod to JLTV and the Fischer-Bronfman Group, franchisees of Swedish house furnishing chain IKEA, it now emerges that IKEA’s neighbor on the positioning can be French retail chain Carrefour.
The land, near the southern entrance to Ashdod and close to the railway station, is zoned for business and industrial use. It’s not but recognized how a lot Electra Shopper Merchandise will spend money on developing the Carrefour department on the positioning, however the firm reported to the Tel Aviv Inventory Trade yesterday that the typical gross value of adapting a Yeinot Bitan retailer to the format of Carrefour can be some NIS 3 million.
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Final week, Electra Shopper Merchandise, which holds the Yeinot Bitan grocery store chain (which incorporates the Mega chain), signed a twenty-year franchise settlement with Carrefour, robotically renewable for an extra twenty years, with the potential for further renewals. Electra Shopper Merchandise’ discover to the Tel Aviv Inventory Trade yesterday acknowledged that Yeinot Bitan would rebrand its shops and people of the Mega and Shuk Lamehadrin chains and adapt them to the Carrefour model in keeping with a timetable to be agreed between the perimeters.
The perimeters have additionally agreed that throughout the subsequent few months a joint committee can be set as much as look at the product vary and its enlargement, and cope with kashrut limitations, pricing, and the timetable for opening the shops beneath the brand new model. The primary shops are anticipated to be transformed by the top of 2022, and 90% of the shops can be transformed inside three years.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on April 11, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
