Carrefour branch in Warsaw  credit: Shutterstock

Yeinot Bitan signs Carrefour franchise agreement

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Electra Shopper Products (TASE: ECP) and French multinational retailing and foods giant Carrefour documented these days that they have signed a franchise arrangement. Below the settlement, 150 branches of the Yeinot Bitan chain will step by step be converted into Carrefour branches and adapted to its structure. The agreement is for 20 yrs with an automatic solution to lengthen it for a further 20 a long time and an possibility to lengthen past that.

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Present day arrangement follows a memorandum of comprehension (MoU) which was signed on the issue final thirty day period. The initial branches beneath the Carrefour model will be opened to the end of 2022, while Carrefour’s have brand name merchandise will start out to be bought in Yeinot Bitan branches right before the summer season.

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Electra Client Products and Carrefour have also agreed that Yeinot Bitan will be allowed to manufacture some of the chain’s solutions in Israel and industry them underneath the Carrefour manufacturer. In addition to getting a retail big, Carrefour is also a person of the world’s most significant food items suppliers with 20,000 brands and 14,000 items. Its private manufacturer signifies 31% of gross sales, a incredibly high proportion by the expectations of the Israeli industry.

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Carrefour is the largest global retailer to enter Israel. The company has some 13,900 branches and a profits turnover of €81.2 billion.

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Electra Customer Merchandise CEO Zvi Schwimmer said, “The agreement with Carrefour is a move that will create a revolution for consumers and a giant possibility for Israeli suppliers. This is just one of the world’s most significant food corporations and I am really content that they have selected to deliver Carrefour to Israel.”

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Printed by Globes, Israel enterprise information – en.globes.co.il – on April 4, 2022.

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

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