Alon Israel Oil in talks to sell Israeli supermarket chains to Catterton Partners


Alon Israel Oil Co. is in talks to sell 55% of the Mega, Teva Eden Market, and AM:PM supermarkets held through the Alon Holdings Blue Square (BSI +17.1%) vehicle to P-E firm Catterton Partners for NIS1B, Globes reports.

The paper's sources added that French supermarket operator Auchan Group is expected to join in on the deal.

Mega is the second largest supermarket operator in Israel, with 213 locations and sales of NIS3.22B in 1H 2013, but has been struggling with declining revenue (-1.7% Y/Y in 1H 2013) after a haredim boycott in 2008 and increasing competition from independent stores.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs