Ten-Bis will be acquired by a dutch company for 135 million euoros

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by Ifi Reporter Category:Financial Jul 29, 2018

Takeaway.com, whose shares are traded on the Amsterdam Stock Exchange, has announced that it has signed an agreement to acquire Ten-Bis from co-founder Tamir Carmel for a cash payment of 135 million euros (NIS 575 million). 

Established in 2000, Ten-Bis provides online catering services and is one of the largest companies in this field in Israel. In 2017, Ten-Bis received 15.2 million orders totaling € 140 million, generating revenues of € 13.2 million and EBITDA of € 5.7 million. The European company notes that the Israeli benchmark shows EBITDA of the highest revenues in the world, which stood at 43% in 2017.
The average income of a bite on every meal ordered through them is NIS 3.7. In other words, every time a consumer orders a meal, he actually transfers the amount, which almost half of it becomes EBITDA (profit before financing expenses, tax, amortization and depreciation).
The Takeaway.com data for 2017, provided by Takeaway.com today, shows that the Israeli company cuts almost 10% of its orders to its customers. In addition, the average order for a bite in 2017 was slightly less than NIS 40 per meal.
The completion of the transaction is subject to the approval of Takeaway.com's general meeting. The closing of the transaction is expected during the second half of 2018, assuming that the required approvals are granted. Takeaway.com has expressed a commitment to the transaction and schedule by agreeing to pay compensation of € 2.6 million if the deal is not completed by October.

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