Strauss Group today signed on Tuesday an agreement with the non-controlling interest shareholders for the acquisition of full ownership of the subsidiary Strauss Water.
According to the agreement, Strauss Group is to acquire all shares of Strauss Water held by the minority shareholders, which constitute 12.44% of Strauss Water’s issued and paid-up share capital.
Strauss is to pay USD 28 per share. In total, the Group will be paying the minority shareholders approximately NIS 66 million.
The consideration will be paid in cash from the Company’s own resources on the closing date.
Gadi Lesin, Strauss Group President and CEO, said today: “Strauss Water continues to be one of the Group’s global growth drivers.
The Group’s investment today is part of our long-term strategy, which aims to continue to develop the category, as well as a reiteration of the Group’s great belief in Strauss Water and its ability to continue to grow.
Full ownership will enable the Group to fully exploit future business and operational synergies between Strauss Water and the rest of the Group.
We would like to thank the partners, who were the heart of the company’s growth and success.”
