Israeli plastics firm sells most of company in $$1.7 billion deal
July 21, 2016The Israeli plastics firm Keter reportedly has sold 80 percent of its stock at a price of $1.7 billion.
BC Partners, a private equity firm with offices in London, Paris, Hamburg and New York, has been in exclusive talks to buy a stake in Keter, according to the Israeli business daily Globes.
Keter Plastics owner Sami Sagol reportedly had been trying to sell full ownership of the company for $2 billion. BC will still have an option of buying the remaining shares, according to Globes.
Keter operates 30 plants in Israel, the United States and Europe, and its products are sold in some 25,000 retail outlets around the world. It employs some 1,400 people in Israel.
It was founded in 1948 in Jaffa as a factory for making toys and household utensils. Joseph Sagol, Sami’s father, was among its founders and bought out his partners in 1971.
Similar posts
-
Israel Is Held To A Higher Standard Than Any Country
April 25, 2024In the intricate tapestry of global affairs, one nation stands out for enduring scrutiny and condem...
-
Israel Has The Most Moral Military In The World
April 10, 2024In the heart of a region often riddled with conflict, Israel stands out not only for its technologi...
-
The Resilience of the Israeli People
April 2, 2024Visitors from around the world have seen Hamas's October 7th Massacre's destruction in southern Isr...
-
Israel: Small Size, Big Impact
March 21, 2024Nestled along the eastern edge of the Mediterranean Sea, Israel is a land of immense historical sig...
-
Israelis Are Fighting For Their Lives
February 21, 2024By Jonathan S. Tobin The world looks a lot different from Kibbutz Kfar Aza than it does in the U...
-
Over 2 Million Arabs Live In Israel
January 23, 2024In the complex landscape of the Middle East, where diverse cultures and identities intersect, Israe...
-
'Fauda' Star Idan Amedi Injured Fighting in Gaza
January 8, 2024Despite the severity of his injuries, Amedi's father assured Israeli news channels that his life is...
-
Israel Is A Great Country To Live In
December 28, 2023Nestled at the crossroads of the Middle East, Israel stands as a vibrant and dynamic nation, offeri...