The Tiv Taam food store group is in talks with several parties over the possibility of bringing in a strategic partner.
One of the potential investors in the capital market made an offer to join the Tiv Taam group, controlled by Kobi Tribitch, at an estimated company value of $70-80 million. Tiv Taam's board is expected to meet in December and vote on bringing in a party, either to one of the group companies or into the group itself.
Tiv Taam is considered a successful player in the food retail sector. The non-kosher food retail chain has carved out a standard-setting role there. It currently has 14 stores and only a year ago opened its flagship store in Rishon Letzion. The chain was established in 1990 after Tribitch decided to revamp his father's store in the Carmel Market and open it as a minimarket. The group has three main divisions; industrial, retail and international. Its annual sales stand at around NIS 1.3 billion.
Tiv Taam had no comment to make on this report.
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