Opinion: Tnuva Dairy Cooperative sale smells bad

ISRAEL - Israel’s Dairy Cooperative was recently sold to the Apex in a somewhat controversial process that has many people wondering.
calendar icon 30 November 2006
clock icon 1 minute read
For a long time now Tnuva has been plagued by mistrust and deceit between management and the milk producing Kibbutz members.

Tnuva CEO, Arik Raichman, has been in a constant battle with the Milk farmers who have been challenging him on most of his activities – going as far as accusing management of misappropriation of funds and lack of Interest in protecting their rights.

Basically the sale of Tnuva was done in a dramatic move to an International Investment house for $1.02 Billion while other competing bids that were upwards of $20 million higher then the Apex bid were ignored.

In a sale process that smells a little like sour milk it seems that management had a different agenda then the one held by the cooperative members

Source: Moshik
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