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The supermarket chain "Victory" is entering the cannabis business

For the first time, a large Israeli retail chain announces the entry into the cannabis business: Victory will give 2.7% of its shares for 50% of the shares of a new company that holds preliminary approvals for the construction of cannabis plants in Kfar Achim.

The Victory chain, which is owned by Eyal Ravid, announced the acquisition of 50% of the shares of a new company that will operate in the cannabis sector in Israel.

Victory, which holds 50 supermarket branches throughout the country, will transfer 2.7% of its shares in exchange for the owners of the new company, which is currently worth almost NIS 18.

Eyal Ravid My husband Victory
Eyal Ravid, my husband Victory

The new company, owned by Sharon and Reut Komares, currently holds only business codes, that is, preliminary approvals for operations without real licenses for cultivation or production.

According to the company's report to the stock exchange this morning, the company intends to build a compound for growing, growing and producing cannabis in the area of ​​Kfar Ahim, near Ashdod.

After completion of the transaction, apparently in September 2019, Victory will provide an owner loan in the amount of approximately NIS 13 for the purpose of moving the project.

This is the first time that a large retail chain has invested in cannabis, although the company says it is not planning to market cannabis at this stage.

The value of "Victory" on the stock exchange has risen by about 2% and currently stands at 640 million. He is expected to continue following the announcement.

Victory's announcement comes about a week after the company reported a decrease of 60 in sales, which amounted to 2019 in the first quarter of 409.7, compared to NIS 414.7 in the corresponding quarter last year.

Cannabis fines

(Starting with 1 in April 2019)

Based on a figure revealed by Minister Erdan. Police refuse to reveal official figureDetails here)

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