Posted at 13:34h in Wine industry by Avi 0 Comments
A consortium of investors headed by Benjamin Yeselzon and Jay Shottenstein has purchased a controlling share of Carmel Winery, Israel’s oldest commercial winery.
A specially convened General Meeting of the wine growers, shareholders of the winery, approved the sale of a controlling interest in Carmel Winery by an overwhelming majority of over 90%. This follows the guideline recommended by the Board of Directors of Agudat Hacormim – SCV des Grandes Caves, the owners of Carmel Winery.
The consortium is made up of an impressive list of businessmen including Binyamin Yeselzon from Israel, Englishman Leo Noye (ex British Israel), American Jay Shottenstein (owner of American Eagle), and Frenchman Pierre Besnainou, (owner of Fauchon).
The consortium was put together by Kedma Capital, who will purchase a controlling majority of at least 50.1% of the shares. Gilead Halevy of Kedma will be appointed the new chairman of Carmel Winery, replacing Israel Ivzan, z”l, who sadly passed away a week ago.
Carmel Winery was founded in 1882 by Baron Edmond de Rothschild. Carmel owns the large, historic wineries at Rishon Le Zion and Zichron Ya’acov, and two small wineries: Yatir Winery at Tel Arad in the Northern Negev and Kayoumi Winery in the Upper Galilee.
Key Dates in Carmel’s History
1882 First vineyards planted. 1890 Rishon Le Zion Cellars (first winery) built. 1892 Zichron Ya’acov Cellars built. 1896 Carmel Wine Co. formed to market wines in Europe & America. 1902 Carmel Oriental – Carmel Mizrahi formed to market wines in Israel & the Near East. 1906 Formation of Agudat Hacormim – SCV des Grandes Caves (wine growers co-operative). 2004 Name changed to Carmel Winery.
2013 Carmel Winery purchased by Kedma and a consortium of private investors.
