(Reuters) – Nestle has agreed to buy the remaining 36.32 percent of Israeli foodmaker Osem for 3.3 billion shekels ($840.5 million), Osem said on Thursday.
Nestle is to buy 40.2 million shares at 82.5 shekels per share, above Wednesday’s closing price of 65.71 shekels.
At a market value of 7.3 billion shekels, Osem is Israel’s largest publicly traded foodmaker.
In a statement to the Tel Aviv Stock Exchange, Osem said the deal, which still is subject to various approvals, valued the company at 9.13 billion shekels.
Nestle currently owns 63.7 percent of Osem. Another 29.4 percent is traded on the Tel Aviv bourse.
Nestle in November had previously offered 80 shekels a share to buy the rest of Osem, the company said.
($1 = 3.9261 shekels) (Reporting by Steven Scheer and Ari Rabinovitch; editing by Jason Neely)
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
