Angel Bakeries Sells Caking activities to Spitzer

As part of KCR’s activities, a new deal has been signed between the Angel Bakery chain and  Spitzer Bakeries for the sale of the cake manufacturing activities, for the sum of 12.36 million ILS. The cake activity actually generates a continuing loss for Angel, and in the first bi-quarterly reports the company has mentioned that it was reviewing alternate courses of action for the caking activities. As part of the agreed upon deal, Spitzer will produce Angel’s products and will issue royalties accordingly.

For additional details, in Hebrew, you can follow this link.

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