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Lower than every week after it was reported that Ari Actual Property (Area) 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 will probably be French retail chain Carrefour.
The land, near the southern entrance to Ashdod and close to the railway station, is zoned for industrial and industrial use. It isn’t but recognized how a lot Electra Shopper Merchandise will put money into developing the Carrefour department on the positioning, however the firm reported to the Tel Aviv Inventory Alternate yesterday that the common gross price of adapting a Yeinot Bitan retailer to the format of Carrefour will probably be some NIS 3 million.
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Yeinot Bitan indicators Carrefour franchise settlement
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 additional twenty years, with the potential of extra renewals. Electra Shopper Merchandise’ discover to the Tel Aviv Inventory Alternate yesterday said that Yeinot Bitan would rebrand its shops and people of the Mega and Shuk Lamehadrin chains and adapt them to the Carrefour model in line with a timetable to be agreed between the perimeters.
The edges have additionally agreed that inside the subsequent few months a joint committee will probably be set as much as look at the product vary and its growth, 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 will probably be transformed inside three years.
Printed by Globes, Israel enterprise information – en.globes.co.il – on April 11, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
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