Leumi Partners invests in vegan products co Vgarden
Leumi Partners CEO Avi Ortal: The international foodtech market is huge, and Vgarden can become a substantial player in it.
Bank Leumi (TASE: LUMI) investment arm Leumi Partners is starting to invest in foodtech. The company will invest NIS 55 million in Vgarden, a producer of vegan cheese and meat alternatives owned by Kibbutz Gan Shmuel and Hadar Food Technology Ltd. The investment will be used to continue product development and to expand Vgarden s international activity.
Leumi Partners, headed by Avi Ortal, has become one of the largest investment bodies in the Israeli economy, with a portfolio valued at NIS 4 billion, mainly focused on energy, retailing, finance, real estate, and technology. Two weeks ago, it bought 20% of security company Team 3 for NIS 65 million. So far this year, it has made investments to the tune of more than NIS 1 billion.
Leumi Partners forms consortium to buy control of Paz
The consortium seeks to buy 25% of Paz Oil for NIS 1 billion.
Bank Leumi (TASE: LUMI) recently formed a consortium of investors to buy the controlling interest in Paz Oil Company Ltd. (TASE:PZOL). The consortium was put together by Avi Ortal, head of the bank s non-financial investment arm Leumi Partners. As far as is known, the members of the consortium are real estate developer Roni Yitzhaki, the Livnat brothers (owners of haulage and infrastructures company Ta avura), and IIF (the Israel Infrastructure Fund), headed by Yaron Kestenbaum. The consortium will buy 20-25% of Paz, possibly buying 20% with an option on a further 5%, for some NIS 1 billion, valuing Paz at NIS 4 billion. Paz s market cap at this morning opening on the Tel Aviv Stock Exchange was NIS 3.4 billion. The company s share price is currently up nearly 14%.