Nirlat - Recovering from Devastating Hamas Attack Acquires Decoline in a Strategic Move


by Ifi Reporter Category:Financial Nov 19, 2023

In a swift and unexpected turn of events, Nirlat, the renowned paint manufacturer from the Inrom group, has acquired Decoline for NIS 63 million, just six weeks after its main factory in Kibbutz Nir Oz, Gaza Strip, was tragically destroyed in a Hamas attack. The purchase, part of a lightning deal, aims to enable Nirlat to resume production as an alternative to its now-lost facility.

Decoline, a family-owned company specializing in paint, coating, and covering products, is the third-largest in Israel within its sector. The acquisition, pending approval from the competition commissioner, includes all of Decoline's assets—equipment, inventory, and intellectual property.

Nirlat, whose logistics center also fell victim to the attack, had already received a compensation advance of about NIS 100 million. The urgent need for production infrastructure led to negotiations with Decoline and a parallel discussion with a Greek company to produce water-based paint products.

Nirlat CEO Omri Lotan emphasized the unforeseen nature of purchasing another paint manufacturer, stating that their initial plans involved rebuilding the Sheharev plant. However, the destruction on October 7 revealed the immediate need for an operational facility. Decoline, with its potential for future expansion, aligns with Nirlat's vision.

Despite the challenges, Nirlat aims to preserve employment for approximately 200 workers, with plans to relocate some to a rented logistics center in Be'er Sheva. Lotan reassured that camaraderie and collaboration with other companies willing to help are pivotal during these challenging times.

The acquisition not only represents a strategic move for Nirlat's recovery but also highlights the resilience and adaptability of businesses in the face of unexpected adversities.



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