KAP AG (XTRA:IUR) agreed to acquire Haogenplast Ltd from Kibbutz Haogen and Lahav Fund for an enterprise value of approximately ILS 150 million on December 30, 2021. The employees of Haogenplast will join KAP Group. The closing of the transaction is subject to various customary market conditions and is expected for the beginning of the first quarter of 2022.

The enterprise value is expected to be corresponding to a multiple on expected EBITDA for 2021 of approximately 4.8x (excluding expected synergies).