Reuters – M&A activity in Israel shifts beyond high tech

Reuters – M&A activity in Israel shifts beyond high tech

BY TOVA COHEN – Reuters

When one of China’s biggest food companies was looking to boost its dairy output it turned to Israel’s tiny market, paying about $1.1 billion for control of the country’s largest food maker.

    Even though the company Tnuva is focused on the Israeli market, China’s Bright Food was attracted to its efficiency in milk production and cutting-edge technology in quality control for use in China, where demand for dairy products is surging.

    The deal is the latest example of how M&A activity in Israel is shifting from the booming high-tech sector, which has been the focus for nearly two decades and is now valued at some $40 billion, or nearly 13 percent of gross domestic product.

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