Timberland (PR photo, Assaf Levy)
Bubbles, the importer to Israel of brands such as Timberland, Hugo Boss, Kenzo, Ripley and Steve Madden, will merge with the stock skeleton Mobile Max Technologies Ltd., at a value of NIS 120 million.
Bubbles founders Tzachi Fried, Haim Nahum and Yudi Lizer are also shareholders in the company. Pursuant to the transaction between the parties, the Bubbles side will hold 87.5% of the merged entity. The company’s chairman is Ronen Toito. According to the publication in Calcalist, the merger will take place when the conditions for merging companies and for a company to enter the stock exchange are met: approval of the shareholders’ meeting, completion of submission of documents to the Securities Authority, approval of the stock exchange.
However, as far as merging with a stock market skeleton is concerned, the conditions make it easier for a merging company to enter the stock market than if it enters alone without a merger.
Bubbles is a company of children’s clothing brands, which operates in several departments: digital website marketing, official import of the brands Timberld, Hugo Boss and Ripley, and is also a parallel importer of many other brands such as: Tommy Hilfiger, Ralph Lauren, Adidas, Nautica, Lacoste, Fred Fry and more.
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Bubbles has warehouses of inventory in Tel Aviv and provides fast deliveries to all parts of the country. In addition, it sells toys, games and pools. And owns the LIVING department for home and child textiles.
During 2016, Bubbles established the boutique chain of stores, which currently has 12 branches, including a surplus store, and which is expected to reach a nationwide deployment of about 20 stores by the end of 2020. Apart from a branch in the TLV mall in Tel Aviv, most of the chain’s stores are located in the Arab sector and in mixed cities, including Yarka, Taibeh, Nazareth, Jaffa, Kafr Qassem, Kafr Qara and Lod, as well as in cities in the south and north of the country. The company also has an online website.
According to a report by Max Mobile, Bubbles ended 2021 with revenues of NIS 44.7 million, compared to revenues of NIS 25 million in 2020. Gross profit grew to NIS 20 million, compared to NIS 11 million last year. Operating profit rose to NIS 5 million, compared with NIS 2.3 million in 2020, and net profit in 2021 amounted to NIS 3.2 million, compared with NIS 1.4 million in the previous year.
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