Israeli businessman Richie Hunter’s Green Lantern investment fund acquires 50 percent of the Mickey Mouse network for NIS 70 million. The fund will inject NIS 30-40 million into the chain and double the number of its branches. Miki Hammo told “Radio Haifa”: “We decided to cooperate with a serious investment fund and continue to develop as a confectionery while protecting the family”
Hagit Hornstein Publication: 14:10 – 09/19/24
His name is Mickey Photo: the Instagram page of the Shmo Confectionery
Israeli businessman Richie Hunter’s Green Lantern investment fund acquires 50 percent of the family confectionery chain Shmo, of chef Mickey Shmo, at a value of NIS 70 million. The fund will flow approximately NIS 30-40 million to the confectionery chain and the shareholders. The chain of the Shmo family has 13 branches and its turnover is estimated at more than NIS 80 million per year. Following the transaction, it intends to double the number of its branches.
The confectionery chain was established in 1992 by Ruthi and Itzik Shmo, who specialized in pastries and confectionery in Kiryat Haim. Later the brothers Miki, Ofer, Yohai and Galit joined. Miki led the product development and Ofer led the business side.
Today the chain includes 13 pastry shops and cafes and the 14th branch will soon open in the Ofer mall in Petach Tikva. After the sale, the chain intends to double the number of its branches to areas where it does not have a store.
Miki Shmo confirmed the deal to “Radio Haifa” and said: “We decided to cooperate with a serious investment fund and continue to develop as a confectionery while protecting the family.”
