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Yeinot Bitan signs Carrefour franchise agreement

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Electra Consumer Products and solutions (TASE: ECP) and French multinational retailing and meals large Carrefour documented nowadays that they have signed a franchise agreement. Underneath the agreement, 150 branches of the Yeinot Bitan chain will gradually be transformed into Carrefour branches and adapted to its format. The arrangement is for 20 a long time with an automatic selection to extend it for a further 20 years and an possibility to extend past that.

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Today’s settlement follows a memorandum of knowledge (MoU) which was signed on the make any difference final month. The initially branches beneath the Carrefour brand name will be opened in the direction of the conclusion of 2022, whilst Carrefour’s very own model solutions will begin to be marketed in Yeinot Bitan branches right before the summer time.

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Electra Purchaser Merchandise and Carrefour have also agreed that Yeinot Bitan will be permitted to manufacture some of the chain’s items in Israel and current market them beneath the Carrefour model. In addition to remaining a retail big, Carrefour is also 1 of the world’s largest food items suppliers with 20,000 makes and 14,000 products and solutions. Its non-public brand name represents 31% of gross sales, a very substantial proportion by the requirements of the Israeli market place.

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Carrefour is the major international retailer to enter Israel. The company has some 13,900 branches and a income turnover of €81.2 billion.

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Electra Customer Goods CEO Zvi Schwimmer claimed, “The arrangement with Carrefour is a transfer that will generate a revolution for people and a giant possibility for Israeli suppliers. This is 1 of the world’s biggest foods businesses and I am extremely happy that they have picked out to carry Carrefour to Israel.”

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Revealed by Globes, Israel business news – en.globes.co.il – on April 4, 2022.

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

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