First significant purchase for the pharmaceutical company Ketzet under the ownership of the Fortissimo Foundation. “Calcalist” has learned that the company is purchasing all the shares of Flourish for about NIS 75 million. Florish, which is currently held in equal parts by the Ben-Shimon family and Kibbutz Meshouah Yitzhak, is a manufacturer of food products and nutritional supplements and cosmetic products, which is known for its brands of Rejuvenation and Relaxation. Flourish’s sales currently stand at approximately NIS 90 million per year, and they are mainly carried out in the local market.
Flourish was founded in 1986 by Rafi Ben-Shimon and Yonatan Ben-Shimon who immigrated from France in the 1980s. The company focused on the production of medicines and in 2004 entered the field of food supplements thanks to the purchase of the company and the Hadas brand, which produces the booster and relaxation. In the same year, Kibbutz Meshouat Yitzhak purchased 50% of the company and became a partner. Today Florish’s activity is divided into three categories: pharma, medical dermocosmetics and food supplements. All products are manufactured in the company’s factory in the Mashgav industrial area, where it employs 130 people. A significant part of the company’s activity is being a subcontractor of the companies Dexel Pharma, Dr. Fisher and Super Pharm, for which it produces some of the Life private label products.
The purchase of Flourish is intended to expand Ketzet’s product portfolio and strengthen its presence in the field of dietary supplements. Flourish will be assimilated into Czet and will not remain a separate company.
Last August, the private equity fund Fortissimo, managed by Yuval Cohen, acquired control (80%) of Czet for NIS 120 million and according to a company value of NIS 150 million. The shares were purchased from Segal First and her father Meir Cohen, who will continue to hold 20%. Last December, Yeftah Seri, who previously served as CEO at the pharmaceutical companies Teva, Perrigo and Sun, was appointed to the position of CEO. About 280 employees. Fortissimo, which was established in 2004, raised $2.6 billion for its six funds.