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Osem Investments Ltd. exercised its option to buy another 7 percent of Tivall for NIS 70.9 million in an effort to increase its product potential and international reach.
As a result, Osem now holds 58% of Tivall and its fully owned subsidiary Sabra Salad Food Industries. Osem said the acquired stake would contribute NIS 3m. to NIS 4m. to the company's net profits in 2006. Under the agreement, Osem has a seven-year put and call option to acquire the remaining 42% of Tivall it does not already own.
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