Tiv Taam buys stake in DOMO

Negotiations between Tiv Taam and DOMO began before Gaydamak agreed to buy the supermarket chain.

By MATTHEW KRIEGER
June 12, 2007 08:17

 
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The Tiv Taam supermarket chain, after introducing new owner Arkadi Gaydamak late last week, announced on Monday that it was buying 60 percent of the DOMO kitchenware chain, together with the Naaman Porcelain Company, in a deal is worth approximately NIS 15.6 million. Tiv Taam has been working with DOMO for about a year, when the supermarket's Rishon Lezion branch agreed to let DOMO open a store inside the market. Following that model, DOMO has opened "DM" outlets in Tiv Taam branches in Netanya, Ashdod and Modi'in, as well. Negotiations between Tiv Taam and DOMO began before Gaydamak agreed to buy the supermarket chain.

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