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December 19, 2014 / 27 Kislev, 5775
 
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Chinese Negotiating to Buy Dairy and Agriculture Giant Tnuva

The Tnuva dairy plant in Kibutz Tel Yosef, Israel.

The Tnuva dairy plant in Kibutz Tel Yosef, Israel.
Photo Credit: NRG

Negotiations over the sale of control stock in the Israeli Tnuva dairy and agricultural product giant have been moving forward in recent days, according to the daily Isarel Hayom. The company’s controlling shareholders—British investment firm Apax and Mivtach Shamir Food Industries Ltd.—appear interested in selling the Apax share in the company to the Chinese Bright Food Group.

According to sources close to the negotiations speaking to Israel Hayom, if the deal goes through it would be for between $2.4 and $2.7 billion. The deal is said to be on a positive track, but the Chinese are not planning to send representatives to Israel in the near future.

The Chinese did appoint local professional representatives to examine every aspect of the purchase.

Apax and Mivtach Shamir today control about 76.7 percent of Tnuva, while the rest of the shared are still owned by the 620 moshavim and kibbutzim that founded the Tnuva cooperative back in 1926. Tnuva is the largest dairy products manufacturer in Israel; its sales account for 70% of the country’s dairy market as well as sales of meat, eggs and packaged food.

Tnuva employs 6,630 workers.

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10 Responses to “Chinese Negotiating to Buy Dairy and Agriculture Giant Tnuva”

  1. China has been doing the same in NZ, the world's biggest supplier of dairy products. http://www.victoria.ac.nz/research/expertise/business-commerce/china-trade-investment

  2. Bener Reyes says:

    If the company is viable, profitable and of national value, Why sell it to foreign, aggressive nation?

  3. Les Legato says:

    Anyone who buys and eats food produced by a Chinese-controlled company is a moron. If the sale goes through I predict Tnuva going bankrupt.

  4. Not good news.

    T'nuvah has been the focus of exposes for extreme animal cruelty and outrageous pricing of their products.
    It was boycotted for a long period of time by many activists.
    The only products I buy from Tnuvah is their rice milk and their soy drink because I am trying to encourage them to adopt humane policies.
    Many in Israel have become Vegetarian, even Vegan, like me after seeing those exposes.

    There was talk of the Israeli public buying Tnuvah.

  5. Roy Masson Strange, your comment has gone a terrible shade of livid green. Why is that? You really must complain.

  6. Chaiya Eitan says:

    NO NO NO!!!

  7. Kind of like the Chinese purchase of our local Smithfield foods in Virginia (USA)-mostly pork products which, of course, won't be found in Israel! Have to wonder what the Chinese are up to, controlling the food supply-hmmmmm!

  8. It's probably never good for any country wanting to maintain its own sovereignty to have foreign companies or countries running its food production. Even if they run the business the same as it's always been, the profits will leave the country, and those profits could be used to strengthen the homeland. China isn't doing this to take over the world though…they just know that everybody has to eat and there's money in things that people have to keep purchasing, and by investing in as many markets as possible abroad, they strengthen their own homeland. The real problem is the capital class that only has one true motivation – personal gain. If more of the profits coming from certain industries around the world were to stay in their home countries, we'd have far less distress around the world in places like Africa – but no, the global investors only think about their own futures, not the fate of the nations in which they rob.

  9. This is a big mistake, becouse Israel will losing stragety.

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Printed from: http://www.jewishpress.com/news/breaking-news/chinese-negotiating-to-buy-dairy-and-agriculture-giant-tnuva/2014/02/11/

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