Allied Investments has acquired 30 percent of Newpan, one of Israel's largest importers of appliances and home entertainment systems. Newpan's value for the deal was estimated at NIS 100 million (approx. U.S. $22.5 million).
Newpan specializes in importing home entertainment systems and large and small household appliances, representing companies such as Toshiba, DeLonghi, Grundig, Magimix, Kenwood, Kitchenaid, Pilot, KEF, and JBL.
The deal comes after a merger agreement between Newpan and Isfar Home Tech (Sony Israel) broke down about 6 months ago. (Globe Online)
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