Investment company Granite Hacarmel today announced an agreement to acquire 25.1% of Israeli consumer products agency LDI for $2.4 million.
The sum also includes stakes in two LDI sister companies. The acquisition is part of Granite's strategy of diversifying its sources of income. Granite Hacarmel will be convening a general assembly of shareholders in order to approve the deal.
LDI represents foreign television channels that broadcast in Israel, such as CNN and MTV. It has also granted commercialization licenses in Israel for more than 100 brand-names, including Harry Potter, Spiderman, Batman, and the Teletubbies.
Its key customers include supermarket chain Supersol (NYSE:SAE), wireless provider Cellcom, communications firm Eurocom, mobile provider Partner Communications, (Nasdaq, TASE:PTNR, LSE:PCCD), retail chain (excluding food) Hamashbir Lazarchan, fast-food company Burger Ranch, textile makers Kitan and Wardinon, and food giant Tnuva.
Granite Hacarmel is controlled by the Borovich family, the international energy company Glencore, Ampal American Israel Corporation (Nasdaq:AMPL), and the Landau family.