Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club
Processed Foods
Bakery & Cereals
Return to: FBR Home | Processed Foods | Bakery & Cereals

Nestlé increases stake in Israeli food company Osem

FBR Staff Writer Published 02 February 2012

Swiss food company Nestlé has increased its stake in Israeli food company Osem Investments by 4.99%, taking its total holding in the company to 58.76%.

Nestlé purchased the additional stake from Osem's former CEO Gad Propper for ILS371.7m ($98.5m). It bought the shares for ILS67.19 ($17.98) each, 18% higher than Tuesday's closing price.

Nestlé had acquired controlling interest in Osem in 1995. Osem is one of the leading food manufacturers and distributors in Israel. It produces packaged cakes, salads and other food products for the Israeli and global markets.

Propper is the son of Eugene Propper, who established Osem in 1942, and headed the company for several years.

Comments
Post a comment

Comments may be moderated for spam, obscenities or defamation.

Manufactures of
food packaging machinery