Angel Bakeries vs. Insurance Company: Kfar HaHoresh Fire Damage Estimated at Tens of Millions of Shekels
A fire at the Angel Bakeries plant in Kfar HaHoresh has caused damage estimated in the tens of millions of shekels. The insurance company has rejected the claim, offering only partial compensation, leading to a legal dispute.
The fire that broke out two months ago at the Angel Bakeries plant in Kfar HaHoresh caused damage estimated at tens of millions of shekels. However, the insurance company rejected the claim filed by the company, arguing that based on its findings, there are indications that certain safety requirements set in the insurance policy were not met, and that there is a connection between this and the extent of the damage.
Accordingly, the insurer announced it is willing to pay Angel about 4.77 million shekels, minus a 1 million shekel deductible, without admitting liability for the remainder of the claimed damage. Alternatively, the insurance company suggested referring the dispute to a mediation process.
Angel reveals that although the damage assessment is ongoing, initial estimates indicate at least 15 million shekels in damage to the structure and infrastructure, and at least 5 million euros in damage to two production lines. The company also estimates the cost of expert services at about half a million shekels. The policy includes coverage for consequential loss for an 18-month indemnity period, though the extent of these losses remains to be determined.
Angel has rejected the insurer's position, demanding full payment in accordance with the policy and threatening to pursue all available legal means. Angel, controlled by Yaron Angel (22.61%) and Stiebel (24.26%), holds approximately 20% of the Israeli bread market.
Angel's sales grew by 7.7% in 2025 to 598.3 million shekels. This growth, combined with lower flour prices, led to an 18% increase in gross profit, totaling 229.2 million shekels. Gross profitability rose to 38.3% of sales, compared to 34.9% in 2024.
