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Electra Customer Goods (TASE: ECP) and French multinational retailing and foods big Carrefour claimed today that they have signed a franchise agreement. Less than the settlement, 150 branches of the Yeinot Bitan chain will steadily be transformed into Carrefour branches and adapted to its format. The agreement is for 20 years with an computerized alternative to prolong it for a more 20 years and an choice to extend past that.




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Today’s settlement follows a memorandum of comprehension (MoU) which was signed on the issue very last thirty day period. The 1st branches less than the Carrefour manufacturer will be opened in the direction of the conclude of 2022, while Carrefour’s possess brand name items will get started to be offered in Yeinot Bitan branches in advance of the summer season.

Electra Shopper Goods and Carrefour have also agreed that Yeinot Bitan will be permitted to manufacture some of the chain’s merchandise in Israel and sector them under the Carrefour brand name. In addition to remaining a retail huge, Carrefour is also one particular of the world’s major foodstuff suppliers with 20,000 brands and 14,000 merchandise. Its private brand name signifies 31% of income, a pretty superior proportion by the criteria of the Israeli industry.

Carrefour is the biggest international retailer to enter Israel. The business has some 13,900 branches and a profits turnover of €81.2 billion.

Electra Client Products CEO Zvi Schwimmer mentioned, “The agreement with Carrefour is a transfer that will make a revolution for consumers and a huge chance for Israeli suppliers. This is one particular of the world’s most important food items organizations and I am pretty content that they have picked out to convey Carrefour to Israel.”

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

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