Tnuva going International ? Tnuva International by Moshik!
Tnuva – Israel’s Dairy Cooperative was recently sold to the Apex in a somewhat controversial process that has many people wondering. For a long time now Tnuva has been plagued by mistrust and deceit between management and the milk producing Kibbutz members.
Tnuva CEO, Arik Raichman, has been in a constant battle with the Milk farmers who have been challenging him on most of his activities – going as far as accusing management of misappropriation of funds and lack of Interest in protecting their rights. Basically the sale of Tnuva was done in a dramatic move to an International Investment house for $1.02 Billion while other competing bids that were upwards of $20 million higher then the Apex bid were ignored. In a sale process that smells a little like sour milk it seems that management had a different agenda then the one held by the cooperative members. The story continues to unfold.