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Gaon Holdings in talks to sell Ahava stake

Dead Sea cosmetics company Ahava last month reported it is moving manufacturing out of the West Bank.

AHAVA DEAD SEA COSMETICS
B. Gaon Holdings Ltd. (TASE: GAON) yesterday reported that it was holding preliminary talks for the sale of its share in cosmetics manufacturer Ahava Dead Sea Laboratories, controlled by Kibbutz Mitzpe Shalem.

Gaon Holdings said, “In view of the preliminary contacts, no format for any agreement has been reached.”

Gaon Holdings owns 16% of Ahava, in which the Livnat family and Shamrock Holdings are also shareholders. Gaon Holdings is controlled by Viola Private Equity, whose founder and general partner, Harel Beit-On, is chairman of Gaon Holdings.

Ahava manufactures and sells skin-care cosmetic products made from Dead Sea minerals and mud. The company’s 2014 sales totaled NIS 183 million, and it had 225 employees as of the end of last year… READ MORE

 

GLOBES logo-eng (1)Published by Globes [online], Israel business news – www.globes-online.com

 

 

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