Israeli food company Strauss-Elite has said it has sold its Excella chocolate factory in France to Spanish chocolate company Zahor for ILS37m (US$8.25m).
Go deeper with GlobalData
Strauss-Elite said the sale will be booked in its second-quarter results and will yield a capital gain of ILS1m after taking into account losses from discontinued activities, reported Dow Jones International News.
The Israeli company announced earlier this month that it was in advanced negotiations over the sale of the chocolate factory.
Earlier this year the board of Israeli food maker Elite Industries approved a merger with parent firm Strauss-Elite, giving the Strauss family greater control of the company. The international operations of Strauss-Elite focus mainly on coffee and chocolate.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
