Fox store
צילום: אורן אגמון
Fox to acquire Israel's Billy Haus
Billy Haus, the Israeli company which owns the rights to Billabong and Reef products, sells half of assets for NIS 19.5 (USD 4.5 million) to Fox
The Fox clothing company purchased 50 percent of Billy Haus, the company which owns the rights for Reef and Billabong in Israel, for NIS 19.5 million (USD 4.5 million).
Billy Haus is a private company owned by Yitzhak Haus, the official dealer of Reef and Billabong products.
Billabong is a wholesale dealer in Israel. Unlike in other countries the company doesn't have its own stores in Israel and its products are sold through other retailers.
Fox has plans to boost sales by opening Billabong and Reef shops in major shopping centers across the country.
The deal awaits approval for Fox's plans to introduce Billabong and Reef stores to the high street by the brands' owners. Fox also demanded sales rights be extended to 2013.
Billy Haus is a profitable company with the company netting NIS 3.38 million (USD 777,000) in profit out of NIS 13.8 million (USD 3.2 million) in total revenues in the first half of 2006.
In 2005 the company's totaled NIS 4.9 million (USD 1.1 million) of NIS 20.3 million (USD 4.6 million) in sales.
