Nestlé boosts stake in Israeli food firm Osem03 February 2012Nestlé has invested a further €75m in Osem, upping its stake in the Israeli bakery, kosher and world foods manufacturer/distributor by 5%. Nestlé now has a 58.76% share in Osem after acquiring the shares from Gad Propper, Osem’s ex-chief executive. Nestlé first invested in Osem in 1995. The partnership has provided Osem with exclusive distribution rights for Nestlé products in Israel and has allowed it to manufacture some of Nestlé products in the country under licence. In 2002, Nestlé increased its stake in Osem to a controlling 50.1% share. The cash injection established a worldwide snack and research development centre in Sderot, Israel. Osem currently manufactures more than a thousand products at fourteen sites across Israel, employing nearly 5,000 staff. The company, which reportedly turned over NIS 3,807.2 million, operates a successful international business in kosher foods. | |
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