US/World News

Israeli dairy firm Tnuva selling majority share to Chinese company



(JNS.org) The Chinese government-owned Bright Food Group will buy 56 percent of the Israeli dairy firm Tnuva, the Jewish state’s largest food company. According to the deal, Bright Food will make the purchase via British private equity house Apax Partners. Although the agreed-upon price is undisclosed, Tnuva is reportedly valued at $2.5 billion. The deal, one of the largest in the history of the Israeli market, will allow Bright Food access to Israel’s technologically advanced dairy production. Tnuva earned more than $2.05 billion in 2013.

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