Harel Wiesel (Facebook photo / Minna, Dima Tliansky)
Now it’s final. The Fox Group, owned by Harel Wiesel, has completed the acquisition of control of Minene by its subsidiary Shilav. Upon completion of the transaction, Shilav holds approximately 50.1% of Minna’s share capital, and the balance is held by the sellers in equal shares.
The group paid about NIS 15 million for the deal, and the founders of the baby boutique product chain, Keren Levy Shoham, Anat Ben Dov, and Meital Shani, will receive a dividend of NIS 12 million.
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The start of the deal took place in October last year, but the completion of the deal came after the competition authority approved the deal earlier this month, which will bring Fox a significant expansion in the children’s clothing market industry, as a complement to the group’s acquisition of Shilab.
Minna was founded in 2005 by the three founders, and after the transaction they will receive both a huge reward and continued holding in the company, even if not in the control it passed into the hands of Shilav. The company produces clothing and games for babies and toddlers for about 200 points of sale throughout the country, and has 11 branches.
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In an interview with The Marker website a few months ago, Keren Levy Shoham, CEO of the company, told of Harel Wiesel: “I met a talented person at levels I did not know. “In the past, we received offers from people who wanted to buy the company or invest in it – but we could not have asked for a better partner.”
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