JERUSALEM, April 11, 2016 /PRNewswire/ -- China's leading investment group Fosun Group ("Fosun") and Gaon Holdings, representing the shareholders of AHAVA Dead Sea Laboratories Ltd. ("AHAVA"), jointly announced and signed an agreement, in David Citadel Jerusalem, over the acquisition of a 100% equity interest in AHAVA, a top brand of Dead Sea mineral skincare in Israel for NIS290 million[1].
Under the terms of the agreement, Fosun will acquire the holdings from the existing shareholders of AHAVA, including Gaon Holdings, Livnat family, Shamrock Israel Growth Fund Advisors, Kibbutz Mitzpe Shalem and Kibbutz Kaliaan.
Mr. Liang Xinjun, Vice Chairman and CEO of Fosun Group and Mr. Guy Regev, CEO of Gaon Holdings, signed the agreement, witnessed by senior officials from the Israeli government and representatives from the two companies, including Mr. Amit Lang, Director-General, Israel Ministry of Economy and Industry, Mr. Yariv Becher, Director of China-India Department, Ministry of Economy and Industry, Mr. William Tang, Partner[2] of Fosun Group, Chairman of Fosun Capital, Chairman of Fosun Steel and Intelligent Equipment Group and Co-President of Wealth Management Group, Mr. Joe He, Israel Chief Representative and Investment Director of Fosun Capital.
Mr. Liang Xinjun, Vice Chairman and CEO of Fosun Group, said "We feel very confident about the market in Israel and continue to seek suitable investment opportunities in different areas in the country. We are glad to have succeeded in acquiring such a famous, strong and successful brand as AHAVA under this mutually beneficial agreement. We will endeavor to extend the success of this brand to China and other countries."
Fosun has been optimistic about Israel's economy and business development and hopes to contribute to the further cooperation between enterprises from China and Israel through investing in Israeli companies. Fosun started to invest in the Israeli market in 2013 when it acquired Alma Lasers, a leading laser beauty equipment company in Israel. Alma Lasers has since made significant progress in its strategy for developing China's market, which has become its biggest single market.
Mr. Liang Xinjun added, "China's economy will be increasingly driven by consumption. On the demand side, the most noteworthy are the desires to preserve and increase the value of household wealth and those for maintaining health and happy life of every family. Therefore, Fosun persistently focused its assets on B2F (Business to Family) and invested in wealth, health and happiness segments. We will tap both the internal and external core resources of Fosun and refine our products with artisan spirit in order to provide families with one-stop integrated solution for wealth, health and happiness. This enables us to create value for our clients through good services."
Founded in the Dead Sea Region, AHAVA is a world-renowned brand of Dead Sea mineral skincare. Its top facial care products include Dead Sea OsmoterTM Facial Serum, Facial Mud Exfoliator and Active moisture gel cream, which are popular with consumers around the world. AHAVA means "love" in Hebrew, and Fosun will try to spread "Love from Israel" as embodied in AHAVA products to the rest of the world through its investment model of "Combining China's Growth Momentum with Global Resources".
| [1] The value of AHAVA's activity for the purpose of the Transaction is NIS 290 million, subject to certain adjustments. |
| [2] It refers to the core management of the Group, which is different from the legal concept of "partners" under partnership. |
About Fosun
Fosun was founded in 1992 in Shanghai. Fosun International Limited (00656.HK) was listed on the Main Board of The Stock Exchange of Hong Kong Limited on July 16, 2007.
Fosun has been persistently taking roots in China and investing in China's growth fundamentals. It has been actively implementing its investment model of "Combining China's Growth Momentum with Global Resources". Fosun is dedicated to making a major stride towards becoming a world-class investment group underpinned by the twin drivers of "insurance-oriented integrated financial capability" and "global industrial integration capability taking roots in China". Today, Fosun's businesses include two major segments, integrated finance (wealth) and industrial operations.
For more information, please visit www.fosun.com.
About AHAVA Dead Sea Laboratories Ltd.
Founded in 1988, AHAVA Dead Sea Laboratories Ltd. is driven by a deep passion to unearth the secrets of the revitalizing effects of minerals on the skin. The only cosmetics company indigenous to the Dead Sea region, the company employs a truly unique scientific approach in its environmentally-conscious research activities. Over the years, this has culminated in the development of a series of premier skincare product lines, renowned internationally for their superior efficacy. AHAVA formulates the rich natural resources of this magical region in strict compliance with recognized international standards. To meet the challenges of a highly competitive market, and the ever-changing needs of global consumers, AHAVA continues to focus on innovation and the use of the most advanced research and technologies available.
For nearly 30 years, AHAVA has been operating in over 30 countries, spanning the world's leading department stores, perfumeries and independent stores. AHAVA is committed to responsibly delivering the virtues of the Dead Sea through innovative, mineral based skin care products. AHAVA continues to earn international acclaim from result-oriented customers who appreciate its Dead Sea Mineral expertise and genuine skin-friendly formulations.
For further information, please visit the AHAVA website: www.ahava.com
