The company operates with a product line of 100 different types of bread products and 250 different types of cakes and cookies, selling through 32 company-owned outlets nationwide and distributing to 6,000 stores and hundreds of hotels and army bases. The company has always been family-run and remains a family business despite being publicly traded since 1984. However, the company's business has been declining due to the decline in the controlled price of bread, with losses totaling nearly NIS 30 million over 2016-2020 and revenue declining more than 15% from nearly NIS 500 million in 2016 to NIS 415 million in 2020.
Cyborg Score Rationale
Full year 2025 results show the company returned to profitability with revenue of ₪598.4m (up 7.7% from FY 2024) and net income of ₪1.41m, but profit margins remain extremely thin at 0.2%. Earnings have declined by 15% per year over the past 5 years. The company faces structural headwinds in a regulated bread market with declining margins.
Top Insights
Market leader with 30% share of Israel's bread market and daily production of 550,000 units (bread and rolls combined).
In August 2021, the company sold its historic Jerusalem bakery site to More Provident Funds and partners for NIS 400 million, signaling a strategic asset optimization amid operational challenges.
The company employs 1,800 workers including Israelis, Palestinians, and new immigrants, with some third-generation employees, and has never experienced a strike in over 80 years.
Total loss to shareholders of 52% over the past three years, indicating severe share price deterioration despite recent return to profitability.
Named Competitors
Strauss Group — Israeli packaged food and baked goods manufacturer competing in dairy, bread, and frozen products
Gad Dairies — Israeli dairy and packaged food producer with baked goods operations
Recent Developments
(Full year 2025) Returned to profitability with ₪1.41m net income and 7.7% revenue growth to ₪598.4m after prior year losses
(May 2026) Employee count stood at 962 as of May 1, 2026, reflecting workforce optimization
(May 2023) Labor leader Omer Bar-Lev served as board chairman until a public controversy led to widespread boycott calls from religious leaders and yeshivas
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