Shuk Herzl Completes 680 Million Shekel Acquisition of Stopmarket Chain

Shuk Herzl, owned by the Dudu Ezra Group, has completed the acquisition of the Stopmarket supermarket chain, founded by Yossi Mashiach, for a valuation of approximately 680 million shekels. The transaction was finalized after receiving approval from the Competition Authority. Bank Hapoalim will provide the group with financing of approximately 500 million shekels for the acquisition.

Following the transaction, the Dudu Ezra Group will operate 23 supermarkets nationwide, alongside its existing activities in fruits and vegetables, logistics, and distribution. According to group estimates, annual sales are expected to reach approximately 1.5 billion shekels. The company projects that expanding operations and opening new branches could push sales to about 2 billion shekels by the end of 2027.

Expansion Plans and Synergy

Stopmarket, established 26 years ago, currently operates 11 branches and employs about 900 workers. Shuk Herzl operates 12 branches and specializes in produce marketing, alongside operating around 100 fruit and vegetable departments in other retail chains. The two networks will continue to operate under their separate brands while integrating procurement, trade, and logistics.

"The transaction builds upon prior business cooperation between the two chains, where Shuk Herzl already operates produce departments within Stopmarket branches," stated Moshiel Elkayam, CEO of Shuk Herzl.

Future Growth and New Branches

Simultaneously, Shuk Herzl plans to open ten additional branches over the coming year, primarily in the north, including Kiryat Shmona, Hazor Haglilit, Katzrin, Maalot, Acre, Ramat Yishai, Tirat Carmel, and Yehud. The group also aims to merge its customer loyalty clubs, targeting a combined base of half a million members.