Tara Dairies, a subsidiary of Central Bottling Co (Coca-Cola Israel), has completed year-long negotiations over the purchase of Zuriel Bros Farm and will acquire the interest for US$6m.
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According to a report in Globes, Tara Dairies wanted to merge with a rival dairy in order to compete with Tnuva Food Industries and Strauss-Elite.
With a negligible share in Israel’s dairy produce market, the Farm has catered for a specialist market, manufacturing soy products and goat cheese.
Tara Dairies’ acquisition of Zuriel Brothers Farm supplements its portfolio for both the general and institutional markets.
In addition to acquiring small Israeli dairies, Tara Dairies’ growth strategy includes the formation of international partnerships. The company will reportedly sign a contract with the Emmi Group of Switzerland, which once had an agreement with Tnuva to market Emmi brand yogurt in Israel that ended due to lack of sales.
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By GlobalData
