The negotiations for acquiring Zuriel Bros. Farm by the Central Bottling Company (Coca Cola Israel) subsidiary Tara Dairies has collapsed according to trade sources in Tel Aviv.
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Tara Dairies was looking for an opportunity to strengthen its salty cheeses segment, and it is likely that the Coca Cola subsidiary will now negotiate with other dairies specialising in the processing and production of a wide range of salty cheeses.
Zuriel Bros. owner Asher Zuriel was quoted in Globes as saying: “It was better to stay small and independent. I thought of linking up with a large company that would increase our sales, but the deal didn’t work out.” Tara Dairies responded saying that its due diligence of Zuriel Bros. Farm uncovered facts that required slashing the price of the acquisition, which was set at US$5m, to which Zuriel Bros. Farm owners would not consent.
