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First Israel Mezzanine Investors Fund (FIMI), run by managing director Ishai Davidi, owns 40 percent of Tana Industries, and Kibbutz Netiv Halamed Heh owns 30 percent. The company has an annual turnover of NIS 300 million, and a profit margin of 10 percent. 90 percent of the company's sales are domestic, and it has sales worldwide.
Market sources believe that Strauss will pay NIS 350 million for Tana Industries, reflecting a sales multiple of 1.2. Strauss posted a NIS 90 million net profit on NIS 1.5 billion in sales for the first quarter of 2009.
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