The company is reportedly lining up the UK coffee and food-to-go chain for entry into the challenging Israeli coffee shop market.
The move comes as the company continues to look for international growth. Poalim Equity, the investment division of Israel’s Bank Hapoalim, is examining the business opportunity with domestic retail chain Fox-Wizel Group. The deal would also include an Israeli market entry for US burger chain Shake Shack.
A statement from Poalim Equity declined to comment on the reported negotiations. The company said it frequently examines investment opportunities and only announces investments ‘if and when the required procedures are completed’.
With over 1,300 outlets, Israel is the third-largest branded coffee shop market across the Middle East. International brands have found the domestically dominated Israeli market challenging to navigate.
