Jaffara Company owned by a company
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(About 70%) and a company
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(About 30%), entered into an agreement to establish a company that will engage in the field of recycling plastic bottles together with Green Pet. The company will hold 30% of the joint company, Green Pet Recycling, for about NIS 5.8 million.
As part of the deal, Green-Pet will sell to the joint company all its assets in the field of activity, for about NIS 28 million. Of this, NIS 5.8 million will be financed by Yafora and the rest by the other shareholders. Upon completion of the transaction, Yafora will hold 30% of the new company, while the rest of Green Pet’s shareholders will hold more. Completion of the transaction is subject to the existence of conditions precedent.
Yafora is engaged in the production and marketing of soft drinks. Among the brands it produces and markets: Spring, Schweppes, Mei Eden, Krystal, Ein Gedi, Tapuzina, R.C. Cola and Pes juice.
A stable and profitable company
Earlier this week, he recommended Shmuel Ben-Arieh, Chief Investment Officer for the local market at Pioneer Capital Management, On Holding in Yafora through the purchase of a Clal Beverages share. According to him, maintenance in the company, “in these tropical days when there is uncertainty in almost every industry, including the retail industry that has been significantly less affected than most other industries, is vital and correct.”
According to the review, the company’s market share over the years is fixed at about 27% of the beverage market in Israel and is second only to the main beverage company, which occupies about 51% of the market. In addition, it has an advantage in relation to the health trend thanks to its holding in the Schweppes brand, which is perceived as a healthy and dietary beverage company, and thanks to the marketing of the Ein Gedi and Mei Eden water brands. Yafora has shown stable results over the years, with the strength of the brands and the strong balance sheet ensuring that the company will continue to invest in the development of the activity as required.
Yafora’s cash balances at the end of the first quarter amounted to NIS 479 million after a dividend distribution of NIS 58 million, and the company has no debts at all. This means that the company’s financial strength is not in doubt, moreover it is a company with financial stability which is like it is hard to find in the market. Its profitability is reflected in every published report. The company’s revenues in 2019 amounted to NIS 922 million with a net profit of NIS 107 million and NIS 105 million in 2018. The profit has been just over NIS 100 million for several years and with incredible stability.
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