Israel’s Paz Group has sold its fastfood chain Burger Ranch to the entrepreneur Yossi Hushinsky, who will pay the sum of NIS20m (US$4.34m) in cash now and the same amount in the future, based on the chain’s sales performance.
Following the signing of the deal, trade sources in Tel Aviv anticipate closer business cooperation between the marketing chain and the fast food chain, namely the establishment of sub-branches of Burger Ranch within the Tiv Ta’am food stores. The buyer holds a 10% stake in Tiv Ta’am.
Some eight years ago, the Paz Group purchased Burger Ranch. It then owned 50 branches and 20 branches were owned by franchise holders. Burger Ranch is considered Israel’s second largest fastfood chain after McDonald’s, registering annual sales returns of NIS150m.