Afif Tanos Tahinat HaNishich (Photo by Avi Dishi Flash 90)
One of the largest tahina manufacturers in Israel, the Prince Tahina, entered into a difficult situation with the outbreak of the Corona epidemic, and the business activity of the company fell into acute cash flow and financial distress. The shareholders’ infusion and the provision of a loan of NIS 13 million did not help either.
In doing so, two weeks ago, the company turned to the District Court in Nazareth itself and the companies it owns accumulated a debt of NIS 140 million and a request to delay proceedings until a debt settlement is formulated. The banks (Mercantil Discount and Bank Discount) also started blowing down the back of the tahina manufacturer’s neck and claimed a debt of over NIS 77 million and asked to appoint a receiver for some of the land it owns. We should note that the area of the Prince Tahinat factory in Ilavon is 5,500 square meters and it employs about 40 workers.
Those who decided to take the initiative to expand the milling activity in Israel are Anan Shemshum, the owners of the Blue Group and other brands who have started negotiations for the purchase of the prince’s milling.
Anan Shamshum is the CEO and owner of the Bnei Fawzi Shamshum company, which operates in the Galilee region and was founded by Anan’s father – Fawzi. The company revolutionized the energy drink market, when it launched the BLU energy drink in 2008, which managed to capture significant market shares and today stands at the top from 40% of the market share in the category. In addition, Anan launched a subsidiary – BLU INTERNATIONAL headed by Doron Frankenstein, through which the BLU energy drink is marketed in many countries including the USA, the Philippines, Bulgaria, the Czech Republic, Australia, Hong Kong , Panama, Canada, Greece, Sweden, the Baltic states, Australia and Canada. In addition, the group owns an oil refining and filling plant and a cake factory, which are also located in the Kedmat Galil industrial area. The company’s products are marketed in the leading marketing chains and in the private market.
“Beni Fawzi Shamshom” is the company that imported XL to Israel and was responsible for the successful introduction and impressive construction of this brand in Israel. In its peak days, the brand managed to reach significant market shares of 75-78% and almost completely wipe out Red Bull, which until then was the only energy drink in Israel. After about a year and a half, the franchise to import XL was transferred to other hands, and then the Bnei Fawzi Shamshom company began to import the BLU drink.
In addition to the BLU brand, the company also owns the Ojala brand – a cake brand that is sold in marketing chains and convenience stores, Arak Jabalna, which leads duty free sales, and the Saba Habib brand, which includes both olive oil and tahini. In this way, Anan Shemshum, the owner of the Blue Group, will try to expand the milling activity in Israel through the “Prince Milling” brand.
Comments to the article(0):
Your response has been received and will be published subject to the system policy.
Thanks.
for a new comment
Your response was not sent due to a communication problem, please try again.
Return to comment