Carrefour to be IKEA’s neighbor on Ashdod site
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Fewer than a week just after it was noted that Ari Real Estate (Arena) Investment (TASE: ARIN) had signed an MOU to sell fifty percent of its holdings in 110 dunams (27.5 acres) of land around Ashdod to JLTV and the Fischer-Bronfman Team, franchisees of Swedish house furnishing chain IKEA, it now emerges that IKEA’s neighbor on the website will be French retail chain Carrefour.

The land, near to the southern entrance to Ashdod and near the railway station, is zoned for industrial and industrial use. It is not still recognized how substantially Electra Shopper Solutions will make investments in developing the Carrefour branch on the web-site, but the business noted to the Tel Aviv Stock Exchange yesterday that the regular gross price of adapting a Yeinot Bitan retail store to the structure of Carrefour will be some NIS 3 million.




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IKEA to make Ashdod department



Yeinot Bitan symptoms Carrefour franchise arrangement







Very last week, Electra Consumer Goods, which retains the Yeinot Bitan grocery store chain (which involves the Mega chain), signed a 20-calendar year franchise settlement with Carrefour, routinely renewable for a even further twenty several years, with the probability of more renewals. Electra Buyer Products’ recognize to the Tel Aviv Inventory Trade yesterday mentioned that Yeinot Bitan would rebrand its suppliers and these of the Mega and Shuk Lamehadrin chains and adapt them to the Carrefour manufacturer according to a timetable to be agreed concerning the sides.

The sides have also agreed that inside of the next few months a joint committee will be set up to look at the product array and its enlargement, and deal with kashrut constraints, pricing, and the timetable for opening the suppliers less than the new manufacturer. The very first retailers are expected to be converted by the stop of 2022, and 90% of the shops will be transformed in just 3 yrs.

Revealed by Globes, Israel company information – en.globes.co.il – on April 11, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


