Nov. 18, 2013, 9:43 AM
- 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.
Alon Blue Square Israel Ltd. engages in the retail and energy business. It operates through the following segments: Fueling and Commercial Sites; Supermarkets, Houseware and Textile; Real Estate; and Other Activities. The Fueling and Commercial Sites segment develops, constructs, and operates... More
Industry: Grocery Stores