The Soglowek meat and food company is considering buying the operations of Burger King Israel from its current franchisee, according to Soglowek director Reuven Maskit.
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Until six months ago, Soglowek was Burger King’s local meat supplier, “but because of a price dispute, Burger King franchise operator started working with Tibon Veal instead,” according to press reports.
The Tel Aviv District Court granted Burger King Israel protection against creditors as of 6 February, in view of a US$12m debt, of which $10m is owed to Bank Hapoalim.
A report in Haaretz notes that if Soglowek submits a proposal to buy Burger King, “this would hinder a plan of rivals McDonald’s and Burger Ranch which considered submitting a bid together.”
The antitrust commissioner said he would not allow McDonald’s and Burger Ranch to bid together if no third company is interested in buying the chain’s operations, “with the intention to continue its operations.” The commissioner’s preference is to see a third party in the fastfood sector, which a successful offer from McDonald’s and Burger Ranch would preclude.
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By GlobalData
