An expanding logistics group has acquired the UPS franchise for Israel for a reported figure of€29 million to move into the courier sector.
Maman Cargo Terminals and Handling, part of Taavura Holdings, has acquired the UPS Israelfranchise for NIS 146 million (€29.3 million), Israeli media reported. The deal includes a NIS 100million payment to the owners of the current UPS service contractor, OPSI. The deal was announcedby the company on the Tel Aviv stock exchange.
OPSI, founded in 1994, operates under the UPS label, and has 900 employees. Maman, a formerstate-owned company that was privatised in 1989, provides cargo handling services at Tel Aviv’s BenGurion Airport and diverse logistics services alongside other business activities.
