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Fosun Acquires Entire Stake in Israel’s Dead Sea Mineral Skincare Brand AHAVA

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(April 10, 2016, Jerusalem, Israel) 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.

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, 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 etc.

 

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 Osmoter™ 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”.

 

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 Osmoter™ 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”.