Food Appeal, one of Israel’s leading cookware companies in the home kitchen market, announced the acquisition of 60% of Argal’s shares for NIS 30 million in cash — at a company valuation of NIS 50 million.
This is the second acquisition made by the company in the past year and a half, as part of its growth strategy through mergers and acquisitions.
Argal’s owners, who founded the company 51 years ago, will continue to hold 40% of the shares and manage its operations alongside Food Appeal’s management.
Argal, founded in 1974, specializes in kitchen and serving equipment for the institutional market — restaurants, hotels, catering companies, and hospitals — and holds exclusive franchises for international professional brands. Its annual turnover stands at about NIS 100 million, and it is considered the largest supplier in Israel in the professional equipment field. The company operates a logistics center, a showroom, and three specialty stores for chefs and restaurateurs across the country.
According to Eyal Sharon, CEO and co-owner of Food Appeal, this is a “complementary acquisition to the company’s operations.” He said, “Both companies deal with similar products but target completely different audiences — Food Appeal serves the private consumer, while Argal serves the institutional market. The move represents an expansion into a market segment in which we have not been active until now, and it’s another step in our ongoing growth.”
Sharon noted that following the investment by Leumi Partners (the investment arm of Bank Leumi), which purchased 20% of the company’s shares in November 2022, Food Appeal began a course of mergers and acquisitions. In January 2024, the company acquired Art Judaica for NIS 40 million — the first deal since Leumi joined as a partner.
Yigal Amit, founder and owner of Argal, stated: “For more than five decades, we have maintained an uncompromising professional standard and personal service for institutional clients. The partnership with Food Appeal is a natural step for the next stage of growth, with a stable partner and a long-term vision.”
Sharon concluded: “The merger with Argal is part of our vision to create one home for everyone who lives and breathes the kitchen — from the home chef to the professional chef.”