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Having signed franchisee offers to open French retailer Carrefour supermarkets in Israel, and 7-Eleven comfort shops, Electra Client Merchandise (TASE: ECP) is setting its sights on different retail sectors. The corporate has now signed a Memorandum of Understanding (MoU) to purchase 18 shops of the Adidas model in Israel from Arik Maman.
On April 26 Electra Client Merchandise signed the MoU to purchase and function the Adidas model sports activities gear shops in two phases. On completion of the deal Electra will purchase 49% of the shares within the firm working the shops for NIS 15 million. When Electra Client Merchandise receives approval from Adidas, it should pay an extra NIS 15 million for the stability of the shares and full possession. Maman has a franchise from Adidas to function the 18 shops till 2030.
Printed by Globes, Israel enterprise information – en.globes.co.il – on June 9, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
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