Businessman Moti Ben Moshe buys 50% of the BBB restaurant chain through Dor Alon for NIS 75 million. The value of the chain, which is controlled by a group of private shareholders, was estimated at NIS 150 million. The acquisition deal constitutes certain compensation for Ben Moshe, who recently failed in his attempt to acquire control of Israir.
The transaction includes a price adjustment mechanism, which will take effect in three years and will include a reduction of up to 66% of the consideration in the event that the company does not meet its targets, or an additional 5% to the transaction if it meets the profitability targets. According to estimates, the next step after the acquisition of the network is expected to be the group’s IPO on the stock exchange.
Moti Ben Moshe (Photo: Yossi Zeliger, Flash 90)BBB is managed and controlled by Ahuva Turgeman, Ron Shulman, Yaron Israel, Tal Yatom and Sagiv Abramson. Following the transaction, their holdings will be diluted. On the other hand, the consideration for the transaction will go directly into their pockets. BBB is one of the largest management groups of restaurants, and it includes the leading hamburger brands BBB, MOSES, MEAT DELI and burgers. The chain will continue its strategy of acquiring leading food brands, as it has done in the past with the acquisition of a burger and Moses chain.
The chain is already negotiating the introduction of additional food chains and the establishment of new formats including Asian, Italian cuisine, sushi, cafes and desserts.
The group currently operates 100 franchises nationwide and has the largest digital customer club in the Israeli restaurant industry. It has about 750,000 customers and manages an extensive delivery activity through a group delivery center, ONLINE sites and advanced applications. The chain’s sales turnover is estimated at half a billion shekels and it is a profitable chain.
Amit Zeev, CEO of Dor Alon, said the deal is part of a strategy to expand areas of activity and diversify sources of income and profit, “in addition to further developing the energy, retail and real estate businesses.” He added that “Beyond the diversification of sources of income and profit, Dor Alon, in partnership with BBB, sees potential for increasing value and strengthening the customer experience in the refueling and trading complexes and in the Group’s real estate sites. We are considering a significant expansion of the catering sector under the new partnership. “
The chain’s CEO Turgeman added that “the value of the deal is a sign of appreciation for the group’s franchisees and employees. This is an addition to the business mix with Dor Alon’s growing retail activity. We will soon implement new models in the field of catering in Israel and abroad.