FoodClips
Source: Reuters
July 08 2010 - Â - Private equity firm Apax Partners said its 56 percent stake in Tnuva was not for sale, in response to an offer from Mivtach Shamir Holdings (MISH.TA), its partner in Israel's largest food company.
"Apax Partners appreciates its partner's approach, but decided not to further explore the opportunity since Tnuva is not being offered for sale," Apax said on Wednesday.
Read more [http://www.reuters.com/article/idUSLDE6660H120100707]
FoodBizIntel®
Tnuva Food Industries Ltd.
Address: Rav Mecher Bldg., Gillot Junction Ramat Hasharon, 47100 Israel
Telephone: +972-3-690-4000
Fax: 972-3-6993450
About Tnuva Food Industries Ltd.
Tnuva Food Industries supplies the milk in the land of milk and honey, and, as one of Israel's largest food companies, it has no trouble keeping its dairy and meat divisions separate. Tnuva's dairy division supplies fluid and cultured milk products, butter, soy-based drinks, and cheeses throughout Israel. It markets the Yoplait brand in that country as well. The company's other food divisions are major processors and suppliers of chicken, eggs, fish, meats, frozen pizza, and deli items. Tnuva's subsidiary, Sunfrost, makes frozen vegetables. London-based investment firm, Apax Partners, owns 55% of the company; Israeli investment firm, Mivtach Shamir Holdings, owns 20%.