Omer Adam and Aroma Music Acquire 40.5% Stake in Zappa Club Chain
Israeli singer Omer Adam and Aroma Music have acquired a 40.5% stake in the Zappa performance club chain, joining Delek Israel to manage and expand the entertainment network.
Israeli singer Omer Adam and Aroma Music have acquired a 40.5% stake in the Zappa live performance club chain, according to reports published by local media. The deal will see Adam and Aroma Music take over the management and future development of the prominent entertainment network.
Financial terms of the transaction were not disclosed, but the valuation aligns with a previous corporate agreement. The acquisition comes roughly a month and a half after Delek Israel bought out the remaining stake of American entertainment giant Live Nation (referred to locally as Events) for 20 million shekels, raising Delek's holdings in Zappa to 81%. The remaining 19% continues to be held by Golan Einat.
Following the new transaction, Delek Israel holds a 40.5% stake, matching the shares held jointly by Omer Adam and producer Beni Menashe, a partner at Aroma Music. Menashe served as the driving force behind the deal alongside Yaniv Adam, the singer's father, who represented the family's business interests.
Zappa currently operates notable performance venues across the country, including in Haifa, Jerusalem, Herzliya, Tel Aviv, Binyamina at the Shuni Amphitheatre, and Latrun. Aroma Music, formerly known as Hed Arzi, represents prominent Israeli artists such as Shlomi Shabbat, Eden Ben Zaken, and Idan Amedi.
