Purchases 60% of the “Popsi” gift and pop product chain at a value of NIS 4 million. Under the agreement, the developers, who founded the chain three years ago, will remain to manage Popsi
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- Steimatzky
The Steimatzky chain is expanding and acquiring 60% of the chain of gift shops and pop-pop products established by Assaf Moore and Amir Wieser. Under the agreement, the developers will remain to manage Popsi.
Popsi was established in 2018 and currently has 7 branches nationwide: Givatayim Mall, Ayalon Mall, Haifa Mall, Ofer Rehovot Mall, Azrieli Mall The Sharon, the building of the Tel Aviv Towers and the Renanim Mall. The company is growing at a high rate and the demand for its products is growing.
The chain’s turnover in 2020 was about NIS 5 million and by the end of 2021 a 75% increase in turnover is expected.
The investment in Popsi joins other transactions that Steimatzky made in the past year as part of the chain’s development process, including the purchase of the ‘Get Box’ website for the sale of electronic and printed books and the purchase of 15% of the Golf Group’s shares in it. Eyal Greenberg serves as CEO and Chief Business Officer in parallel with his role as CEO of Steimatzky.
, 20% of Steimatzky, at a value of about NIS 235 million per chain.
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Eyal Greenberg CEO Steimatzky : “As part of Steimatzky’s growth strategy in the board and toy games category,
we identified the Popsi network as a trendy, young and kicking network In the field of pop products, collection and impulses. We believe that the connection between Steimatzky and Popsi will create a synergy that will lead to economic growth, with an extensive branch deployment of branches throughout the country. “
Asaf Mor and Amir Wieser, owners of Popsi Network : “We are very pleased with a deal with an experienced strategic partner with a deep understanding of the retail sector in Israel. We believe that together with Steimatzky, we will succeed in bringing Popsi to be a significant player in the field of leisure products, and expect a successful collaboration within the framework of Popsi.
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