ISRAEL – Strauss Group announces the acquisition of Tana Industries Ltd

MILAN – Strauss Group, the world’s sixth largest coffee company, announced on Friday the closing of an agreement to acquire 100% of shares in Tana Industries Ltd. and it’s Tami 4 Water bar system, through the Group’s subsidiary H2Q Water Industries Ltd.

Strauss paid NIS 291 million for the Transaction which, with added cash adjustments, totalled NIS 303 million (US$80.45 million).

Following the successful completion of the due diligence process and receipt of all approvals required by State authorities, H2Q, which is controlled by Strauss Group has now completed the acquisition of all of Tana Industries Ltd shares.

H2Q is a joint venture between Strauss and a group of scientists and entrepreneurs. Strauss Group started investing in this venture approximately three years ago, managing it as a start-up alongside other Group businesses.

Following the acquisition agreement of Tana Industries Ltd., Strauss Group increased its share in H2Q to 87% of the issued and paid-up share capital of the company.

Tana Industries is the company behind the Tami 4 brand.

Founded in Kibbutz Netiv HaLamed Hei in 1971, Tana is today a home drinking water solutions market leader in Israel with presence in approximately 250,000 households, and is a world leader in the development, production and marketing of water purification, filtering, heating and cooling dispenser systems at points-of-use for homes and offices.

Upon its introduction to the market, the Tami 4 water bar created a drinking-water revolution in Israeli households. It made a breakthrough on a global scale by penetrating the home market and positioning itself as an easy substitute and easily available replacement for bottled water at home.

Tami 4 has gained world recognition, receiving numerous awards for design and innovation.