The Green Lantern Investment Fund will purchase 50 percent of the confectionery chain of the Shmo family and chef Mickey Shmo. For the purpose of the deal, the chain is valued at NIS 60-70 million, and the fund will flow NIS 30-40 million into the company’s account, some of which will be distributed among the shareholders. The chain of his name, which has 13 branches and whose sales turnover is estimated at NIS 70 million per year, intends to double the number of its branches under the new ownership.
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The chain began in 1992 with the first confectionery opened by Ruthi and Itzik Shmo in Kiryat Haim. About a year later their son Miki joined them, and over the years his brothers Ofer, Yohai and Galit also joined. Miki, a pastry chef by profession, who became famous in the early 2000s for his appearances on various television programs, was entrusted with the development of the products, and his brother Ofer took responsibility for the business side. Since then the chain has grown and grown, with six branches in Haifa and Kiryat and seven additional branches in Tel Aviv and the Sharon area.
Miki Shmo said in response: “We decided to cooperate with a serious investment fund and continue to develop as a confectionery while protecting the family.”