The Elite-Strauss Group is negotiating with several European concerns to sell Elite’s loss-making plants in France and Belgium.
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Trade sources in Tel Aviv noted that several private-label companies that have commercial relations with Elite are among the potential buyers of the plants.
Elite owns two plants in Western Europe, producing coffee and chocolate, which are supplied only to private label companies or to supermarket retail outlets and are not sold under Elite’s brand names, according to a report in Globes.
In 2002, sales revenues of the two plants amounted to NIS270m (US$61.3m), incurring operating losses of NIS12.25m.
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