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Israeli-based dairy producer Tnuva, which operates also in Romania, is planning to expand to new markets in Eastern Europe, India, and other emergent areas and is currently negotiating the acquisition of local dairy producers.
Tnuva General Manager Arik Raichman said approximately 1 billion USD of the company"s turnover should be generated overseas in five-to-seven years. Currently, Tnuva"s turnover is about 6 billion ILS/year (1.56 billion USD) of which only five percent comes from international activities - Romanian operations and exports to the US.
Tnuva Food Industries Ltd., the largest dairy producer in Israel has two new owners as of yesterday: Apax Partners and Mivtach Shamir Holdings Ltd. According to a press release to the Tel Aviv Stock Exchange, Mivtach Shamir announced the acquisition of 76.7% in Tnuva together with Apax Partner.
The price indicates a market capitalization of 989.1 million USD. Mivtach Shamir will hold 20.67 percent (204.4 million USD), whereas Apax will hold the majority package. Tnuva spent 55 million USD to open Tnuva Romania in 2007.
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