Israel Canada Hotels to Acquire Brown Hotels Chain for NIS 100 Million
Israel Canada, a prominent real estate company, has announced a significant acquisition of the Brown Hotels chain, valued at approximately NIS 100 million. This acquisition will be executed by its subsidiary, Israel Canada Hotels, and encompasses the entire operation of Brown Hotels in both Israel and Greece, totaling 1,850 rooms. The deal includes 10 selected hotels in Tel Aviv and Jerusalem, contributing an additional 779 rooms to the chain's portfolio.
Reuven Alex, partner and CEO of Israel Canada Hotels, expressed enthusiasm about the acquisition, highlighting the strategic importance of expanding the company’s operations overseas. The transaction not only includes the physical assets but also the Brown brand, customer club, website, and ordering system. The deal is subject to various conditions, including court approval and the approval of the competition commissioner, emphasizing the uncertainty of the transaction maturing into a binding agreement.
Once completed, the acquisition is expected to increase Israel Canada Hotels’ total room volume to approximately 3,600, setting the stage for further international expansion.
- ## Playtica Acquires SuperPlay for $700 Million In another major development in the Israeli business landscape, Playtica, a leading mobile gaming company, has signed a binding agreement to acquire SuperPlay for $700 million, with an additional contingent consideration of up to $1.25 billion based on specific financial milestones over the next three years. This acquisition is anticipated to enhance Playtica’s growth trajectory by integrating an experienced team known for launching successful games. Founded in 2019 by former Playtica employees, SuperPlay has made a name for itself with popular games like Dice Dreams and Domino Dreams, which recently peaked at 1.7 million daily active users. The founders will continue to lead SuperPlay as an independent studio under Playtica, aiming to leverage their creativity and expertise to develop more successful titles in the mobile gaming sector. Robert Antokol, CEO of Playtica, emphasized that this acquisition is pivotal for strengthening Playtica's position in the mobile gaming market, creating new opportunities for growth and innovation.
