US convenience store mega-chain 7-Eleven is coming to Israel after signing a deal with Electra Consumer Products to open hundreds of stores over the next three years.
However, unlike other locations, the Israeli sites will be closed on Shabbos.
Under the terms of the deal, Electra will invest NIS 60 million ($18.59 million) in setting up stores by the end of 2024, with the first outlet opening in Tel Aviv in 2022, the company said in a statement Tuesday.
The deal is for 20 years with the option to extend it to 50. After a one-off unspecified payment, Electra will then pay a monthly percentage of the stores’ income to 7-Eleven.
Electra said the stores will at first be opened in city centers, office areas and other places where there is a large movement of people.
Read more at Times of Israel.
{Matzav.com}
Great. Now my life is complete.