Carrefour to be IKEA’s neighbor on Ashdod site
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Less than a 7 days just after it was claimed that Ari Authentic Estate (Arena) Financial commitment (TASE: ARIN) experienced signed an MOU to market fifty percent of its holdings in 110 dunams (27.5 acres) of land in the vicinity of Ashdod to JLTV and the Fischer-Bronfman Team, franchisees of Swedish home furnishing chain IKEA, it now emerges that IKEA’s neighbor on the website will be French retail chain Carrefour.

The land, shut to the southern entrance to Ashdod and in the vicinity of the railway station, is zoned for commercial and industrial use. It is not however identified how a great deal Electra Shopper Merchandise will spend in setting up the Carrefour branch on the internet site, but the corporation reported to the Tel Aviv Inventory Exchange yesterday that the normal gross cost of adapting a Yeinot Bitan retail store to the structure of Carrefour will be some NIS 3 million.




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Last 7 days, Electra Client Items, which retains the Yeinot Bitan supermarket chain (which incorporates the Mega chain), signed a twenty-year franchise arrangement with Carrefour, instantly renewable for a additional twenty yrs, with the risk of additional renewals. Electra Purchaser Products’ discover to the Tel Aviv Stock Exchange yesterday stated that Yeinot Bitan would rebrand its stores and those people of the Mega and Shuk Lamehadrin chains and adapt them to the Carrefour brand name in accordance to a timetable to be agreed in between the sides.

The sides have also agreed that in the next few months a joint committee will be established up to examine the products array and its enlargement, and offer with kashrut constraints, pricing, and the timetable for opening the shops underneath the new manufacturer. The initially suppliers are predicted to be transformed by the finish of 2022, and 90% of the retailers will be converted in just three years.

Printed by Globes, Israel enterprise information – en.globes.co.il – on April 11, 2022.

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


