Carmel Winery Sold at NIS 130m Value

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The sale of the controlling stake in the iconic Carmel Winery to an international consortium of investors Thursday formally approved following a 90% vote in favor of the deal by the general meeting of growers.

The completion of the sale, which values the winery at NIS 130 million, follows a six-month sale process.

The buying consortium was organized by Kedma Capital, which is run by Gilead Halevy, Gilad Shavit and Uri Einan. It counts both Israeli and foreign investors, including the Jesselson family, former controlling owners of Elite, and the Schottenstein group, one the largest retailer groups in the United States with supermarket chain Albertson’s and the American Eagle Outfitters clothing chain.

Other investors include Leo Noe, formerly the controlling owner of British-Israel Investments; Pierre Besnainou, a businessman and leader of the Jewish community in France; and Remo Ben Shushan, half owner of Marina, an Israeli company that grows and distributes mushrooms, sprouts, and spices.

The group will start by purchasing 35% of the winery’s shares from growers who opted to quit the association and sell their shares. If the Jewish Agency for Israel decides within 14 days to relinquish its shares, the investor group could increase its stake to 66%.

If the agency opts to keep its shares then the winery will issue new ones to raise the investors’ stake to 50.01%.

Wine grapes. Credit: Dan Peretz

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