Businessman Arcadi Gaydamak is set to purchase 51 percent of
the Tiv Taam treif food chain, founded by a pork-
producing kibbutz. According to reports, Gaydamak plans to
make the chain kosher and stop production work on Shabbos.
"Pork products are offensive to the Jewish tradition," the
business mogul told Yediot Achronot. "The first thing
on the agenda will be to remove them from Tiv Taam."
Such a move was assessed in the past by the Bronfman-Fisher
Group. Figures in the retail market say that Gaydamak, who
has gained a reputation in Israel primarily as a
philanthropist, could use the chain as a platform for
reaching out to voters, i.e. lowering prices significantly in
order to become a serious competitor against the Blue Square
and Supersol chains, which control 38 percent of the
market.
Just last week Gaydamak completed a lightning deal for the
acquisition of the Gilon Investments Ltd. for a sum of NIS 84
million ($20 million) — a premium of 40 percent above
the market value.
One day later control of Ameris Holdings, control shareholder
of the Petro Group (which operates gas stations and
convenience stores in the US), was sold to Gaydamak for NIS
172.7 million ($41 million).
In April Gaydamak acquired control of Osif for a sum of NIS
600 million ($143 million), a price that reflected a premium
of 80 percent of the market price on the day of the
acquisition.
Although the development corporation was valued at only NIS
448 million, Gaydamak paid $200 million. But every time
Gaydamak has announced the acquisition of a public
corporation above market value the share price has leaped up
to the value Gaydamak offered. And once again, on Sunday, Tiv
Taam shares shot up 50 percent.
