Osem (company)

For other uses, see Osem (disambiguation).
Osem Investments Ltd.
Private
Traded as TASE: OSEM
Industry Food processing
Founded 1942 (1942)
Headquarters Shoa'm, Israel
Area served
 Worldwide
Key people
 Aviezer Kaplan, Itsik Tsaig (CEO)
Products Coffee, Pasta, Breakfast cereals, Confectionery
Revenue Increase NIS 3,807.2 million (2010)[1]
NIS 480.5 million (2010)
NIS 316.48 million (2010)
Total assets NIS 3,551.8 million (2010)
Number of employees
 4707
Parent Nestlé
Website www.osem.co.il

Osem Investments Ltd. (TASE: OSEM) (Hebrew: אסם‎‎) is one of the largest food manufacturers and distributors in Israel.[2] The group is owned (100%) by Nestlé S.A. of Switzerland.

The company used to be listed on the Tel Aviv Stock Exchange and is a constituent of the TA-25 Index.

History

Founded in 1942 as a food marketing company, in 1946, the company built its first factory in Bnei Brak. It originally produced noodles and ptitim, which is similar to Sardinian fregula. In 1964, Osem's snack factory was founded in Holon, and the company's main product was created - the peanut butter-flavoured Bamba. In 1970, the company started producing baked food in addition to introducing the Bissli snacks, which come in several flavours such as falafel, mesquite, BBQ, pizza, and onion. Osem also produces soup powders which now markets MSG-free versions of its soup mixes under a green label as opposed to the traditional red one.

The company's main factory was built in 1976 in Petah Tikva, in which the company's administration offices, distribution centre, and the sauce factory are now found.

Osem has acquired several smaller food companies and expanded their product lines, such as Froumine, Argal Bakery Shop, and Magdanot HaBait factory (where the cakes production line is found).

In 1995, Osem started to market Nestlé's products. Among these are coffee, chocolate, and breakfast cereals. In 1995 Nestlé also acquired 10% of Osem's shares, followed by an additional 41% in 1997.

All Osem products produced in Israel are produced under the kosher supervision of the Chief Rabbinate of Israel, and many are certified by the Edah HaChareidis, as well.

In August 2015, Israel's Health Ministry ruled that Heinz Tomato Ketchup does not contain enough tomato solids to qualify as ketchup and must be referred to as "tomato seasoning.[3] Osem, a rival ketchup manufacturer, had Heinz' product tested and found that it only contained 21% tomato concentrate; regulations in Israel require that it contain at least 41%.[4] Osem successfully petitioned the government to force Heinz to change the Hebrew labelling on their ketchup. The ruling does not affect the English language labelling.[5]

Production facilities and subsidiaries

Osem factory, Modi'in

The company holds a number of subsidiaries which make up the Osem Group. The company's subsidiaries include Sabra Salads, Tivall, Of Tov, Nestlé Ice Creams, Beit Hashita, Asamim, Nestlé-Purina, Materna Ltd. (51%), and Foodtec. In 2008, the company bought Tribe Mediterranean Foods Ltd., a Mediterranean food producer and distributor based in the United States. The group produces approximately 2,000 different products, divided into four main categories: room temperature food - snacks and pastries, room temperature food - other, chilled food, and frozen food.

The group operates 10 different production facilities in Israel, and distributes its produce through its distribution centers. In 2007, the group completed the construction of a nationwide distribution and logistics center. In addition, the group exports its produce to Europe and the United States through its overseas subsidiaries: Osem U.K. Ltd. and Osem USA Inc.

References

  1. ↑ "Osem Investments Ltd.". Tel Aviv Stock Exchange. 2011. Retrieved 31 August 2011.
  2. ↑ Dun's 100 - Israel's Largest Enterprises 2009, Dun & Bradstreet
  3. ↑ "Israel Downgrades Heinz Tomato Ketchup to Tomato Seasoning". Fortune. Retrieved 26 August 2015.
  4. ↑ "Heinz tomato ketchup faces labelling change in Israel". BBC News. Retrieved 26 August 2015.
  5. ↑ "Heinz Isn't Ketchup in Israel, Health Ministry Rules". Haaretz. Retrieved 26 August 2015.
Wikimedia Commons has media related to Osem (company).
This article is issued from Wikipedia - version of the 11/16/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.