Nestlé to buy rest of Israeli foodmaker Osem

Nestlé has invested in Osem for over 20 years and already owns 63.7% of the company, Israel's third-largest food maker by sales, competing with market leader Tnuva and Strauss Group.

”Upon completion of the deal, the company will become a private company that is fully owned by Nestle,” Osem said. Following the buyout, Osem shares would be delisted from the Tel Aviv Stock Exchange. Osem produces and sells products including pasta, salad dressings and ice cream under the Nestle and other brand names - comprising about 10% of Israel's market. It has nine factories across Israel and for the first nine months of 2015 it reported a net profit of € 67.7 m on sales of € 737.3 m.