December 4, 2022

The Domestikated Life

One Passion

Rani Zim sells Office Depot to UMI

The deal values Business office Depot Israel at NIS 80 million, of which Zim will acquire NIS 35 million, as the chain has NIS 45 million debt.

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After intensive negotiations, Rani Zim signed an arrangement on Friday to provide the Business Depot retail chain to car importer UMI (Universal Motors Israel). The sale is at a valuation of NIS 80 million, and involves NIS 45 million credit card debt owed by Business Depot.

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“Globes” initially documented final August that Zim was placing Office Depot up for sale by EY, seven a long time after he acquired it. The chain is composed of 41 branches all around Israel. Zim held it privately, and not via the general public serious estate firm that bears his title. The reason for the sale is that Zim wishes to concentrate on maximizing and increasing his professional real estate business.

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In the recent offer, Zim receives NIS 35 million net. He is estimated to have invested NIS 30 million in having over Business office Depot. He purchased 50 percent the shares in the chain in 2014, and the remainder a year later

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Revealed by Globes, Israel enterprise information – en.globes.co.il – on May perhaps 22, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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Rani Zim  credit: Eyal Izhar

Rani Zim credit: Eyal Izhar