Electra Shopper Products and solutions (TASE: ECP) and French multinational retailing and food stuff giant Carrefour documented today that they have signed a franchise settlement. Underneath the arrangement, 150 branches of the Yeinot Bitan chain will progressively be transformed into Carrefour branches and adapted to its structure. The settlement is for 20 decades with an automated possibility to increase it for a further more 20 yrs and an solution to prolong past that.




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Present-day agreement follows a memorandum of knowledge (MoU) which was signed on the matter very last month. The initially branches less than the Carrefour model will be opened toward the end of 2022, though Carrefour’s very own manufacturer products will begin to be offered in Yeinot Bitan branches prior to the summer time.

Electra Shopper Products and solutions and Carrefour have also agreed that Yeinot Bitan will be authorized to manufacture some of the chain’s products and solutions in Israel and current market them less than the Carrefour model. In addition to being a retail giant, Carrefour is also a single of the world’s major food stuff suppliers with 20,000 brand names and 14,000 items. Its non-public brand signifies 31% of income, a quite high proportion by the standards of the Israeli industry.

Carrefour is the largest global retailer to enter Israel. The corporation has some 13,900 branches and a income turnover of €81.2 billion.

Electra Consumer Goods CEO Zvi Schwimmer stated, “The settlement with Carrefour is a go that will produce a revolution for shoppers and a large prospect for Israeli suppliers. This is 1 of the world’s greatest food items companies and I am extremely delighted that they have decided on to convey Carrefour to Israel.”

Released by Globes, Israel business enterprise news – en.globes.co.il – on April 4, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


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