Tara Dairies, Israel’s third largest producer of milk and milk products, is seeking a strategic partner “with a view to selling 51% of the company shares,” according to a report in today’s Ma’ariv. A spokesman for Tara Dairies told just-food.com “there is something in the pipeline along these lines,” but declined to elaborate on the development, which has taken the country’s food business by surprise.
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Tara, with turnover of more than US$120m in 2000, produces 12% of the country’s milk and milk products, behind giant Tnuva with 69% and Strauss Dairies with 19% of the market. The group was established in 1942 and is owned by 38 families. The report added that Tnuva, Strauss Dairies, Osem-Nestlé and several European companies have shown an interest in buying Tara’s shares.
According to Ma’ariv, despite the interest shown by local companies,”Tara prefers a partnership with an international consortium which will enable it to better compete with Tnuva, as well as penetrate overseas markets.”
By Aaron Priel, just-food.com correspondent
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