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Hapoalim mulls Pret a Manger, Shake Shack investment with Fox

  • November 16, 2022

Bank Hapoalim (TASE: POLI) investment unit Poalim Equity are examining an investment together with retail chain Fox-Wizel Group (TASE:FOX) controlled by Harel Wizel, which would bring two major international food chains to Israel: UK freshly prepared food franchise Pret a Manger and US burger chain Shake Shack.

In July Fox notified the Tel Aviv Stock Exchange (TASE) that it was in talks to open Pret a Manger outlets in Israel and in the past there have been reports that Wizel wanted to bring Shake Shack to Israel.

Pret a Manger is a coffee, sandwiches and snacks chain with over 500 branches worldwide. The chain, managed by Pano Christou, operates in the US, Europe, China, Hong Kong, Dubai, and Singapore. Like other international chains, Pret a Manger has self-service shelves for hot food and refrigerators. The customers themselves collect the products and go to the cashier only to pay.

Shake Shack is a US fast food chain which was founded in 2001 in New York City and has since expanded to 15 countries including the UK, Japan, UAE, and Mexico. The franchise operates 360 outlets and the company is traded on Wall Street with a market cap of $2 billion.

Poalim Equity said, “Poalim Equity, as the investment arm of Bank Hapoalim, frequently examines entry into real investments in various areas. The company does not comment on the investments it is examining or that have been offered to it, or those that have not been offered, and only announces investments if and when the required procedures are completed.”

Published by Globes, Israel business news – en.globes.co.il – on November 16, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


Article source: https://www.globes.co.il/en/article-1001430081

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