Company Fox Announced that the purchase transaction of the Minna baby clothing chain has been completed, after the competition authority headed by Adv. Michal Cohen approved the transaction.
In October 2021, Fox announced that its subsidiary Shilav, which it acquired in July 2018, entered into an agreement with the founders of Minna, Meital Shani, Anat Ben Dov Tsabari and the Levy-Shoham Foundation, under which Shilav will acquire control of Minna.
According to a report sent to the stock exchange today (Sunday), after the conditions precedent were met, the transaction for the acquisition of control of Mina by Shilav was completed last week. Upon completion of the transaction, Shilav holds approximately 50.1% of Minna’s share capital in exchange for NIS 15 million, and the balance is held by the sellers in equal shares. The agreement also stipulates that prior to the completion of the transaction, the sellers will receive a dividend in the amount of approximately NIS 12.6 million.
Minna is engaged in the development, design, production, import and sale of baby and children’s products, clothing and accessories, and has a wide wholesale array. According to market sources, Shilab and Fox intend to double and triple the number of active branches, which currently number 8 and 3 more surplus branches, and develop the chain abroad. Across the country like pacifiers and baby stars.