Management of Sugat Group opened trading this morning on TASE, in celebration of Sugat’s IPO and joining the trading on TASE. The Opening Bell Ceremony was attended by senior executives of Sugat Group, including Eliezer Blatt, Chairman of the Group; Guy Propper, CEO; Rami Danon, Deputy CEO and CFO; Ofer Rokni, CEO of the Salt Division; Eran Dolev, VP of Sales; Roee Weiser, VP of Marketing and Business Development; and Yoni Schor, VP of Operations. The event was also attended by representatives of Fortissimo Capital, including Yuval Cohen, Founder and Managing Partner of the fund, Uri Zahavi, Oren Bazzi, and Mark Laznik. Other participants included the advisors who accompanied the Company through the IPO process, including the underwriters, ValueBase, legal counsel from Gornitzky GNY Law Firm & Co., and auditors from Deloitte.
Sugat Group is one of 21 companies that began trading on TASE in 2025. Over the past year, three food-sector companies have gone public, with Sugat being the largest. In early December 2025, Sugat completed its IPO at a valuation of NIS 1.2 billion. The offering generated strong demand totaling NIS 700 million, leading the Company to increase the size of the offering by about 20% to NIS 360 million, representing the issuance of roughly 29% of its shares. Sugat Group's annual revenue approximates NIS 1 billion.
Sugat Group ranks among the ten leading companies in the Israeli food sector and spearheads several product categories. The Group is engaged in the import, production, and marketing of a wide range of staple food products under well-known brands, including "Sugat" (rice, legumes, flour, sugar, grains, and more), "Etz HaZayit" (olive oil), "Salt of the Earth," "Al Arz" tahini, "Pereg" spices, and others. The Group owns six manufacturing facilities and employs nearly 500 people in Israel. Sugat operates in both the retail and industrial markets, supplying its products to retail chains and wholesalers.
Sugat Group's roots date back more than 100 years, beginning with the establishment of the salt factory in Atlit. Fortissimo Capital, the controlling shareholder of Sugat Group, acquired full ownership of the Company in early 2019, and in 2021, Poalim Equity, the investment arm of Bank Hapoalim, joined as a partner. The Group owns several leading Israeli brands, including Etz HaZayit, Salt of the Earth, Al Arz, and Pereg, and recently signed an agreement to acquire Filtuna (canned tuna factory).
Guy Propper, CEO of Sugat Group: "Opening trading on TASE marks a historic evolution for Sugat, bridging a century of heritage with a new era of growth. This IPO underscores the market’s profound confidence in our brands and long-term vision. We are committed to accelerating our expansion through strategic acquisitions and operational excellence, delivering sustainable value to our shareholders and consumers alike.”
Tom Alhadif, Head of Sales and Market Development at TASE’s Economic Department, said at the ceremony: “TASE welcomes Sugat Group, its employees, and its management to Israel's community of public companies. Sugat’s story is the story of Israeli industry and the impressive development of the local capital market - from its historic roots at the Atlit salt factory to its emergence as a leading food group.
We wish you ongoing success and growth in both your business operations and the capital market. TASE continues to prove it is the true home of the Israeli economy, with 21 new companies joining in the past year alone, including Sugat Group. The addition of Sugat, a food sector leader, contributes to the diversification of investment opportunities on TASE. We believe that in the coming year, more companies from across all sectors of the economy will continue to join TASE, utilizing it as a key platform for capital raising and financial growth for the benefit of investors and the Israeli economy as a whole."
In the picture from right to left: Guy Propper, CEO of Sugat Group; Yuval Cohen, Founder and Managing Partner of Fortissimo Capital Fund; Tom Alhadif, Head of Sales and Market Development at TASE’s Economic Department; Ron Klein, EVP, Head of TASE’s Economic Department, and Sugat Group Management.
Photography credit: Dror Sithakol, authorized for use for no consideration.
