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Publish Date : 11-Mar-2016

Rami Levy said Mega stores will be functional as an individual unit and up to 2,000 more employees will be recruited.

As the Lod District Court again postpones the due-dates for bids for Mega. Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. has told the Tel Aviv Stock Exchange (TASE) that it will bid to acquire the financially troubled supermarket chain.

Rami Levy is the sole firm to have presented a bid. that it will not merge the Mega chain with its present operations but run it as a separate chain, said Rami Levy.

"The company's work plan is to operate Mega branches, if the purchase bid wins, through a subsidiary and if dependent conditions are accepted (including approval by the Israel Antitrust Authority and the court) as a separate entity, with a separate head office, separate accounting, separate operations, and separate management, and only purchasing operations will be amalgamated," said the firm.

"The company believes it can take advantage of the Rami Levy Group brand and its financial strength to offer cheaper prices and bring the benefits of cheaper prices into the cities. The company plans hiring 1,000-2,000 more employees to increase sales per square meter of the branches that will be operated by the subsidiary within this framework," the firm added.

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