The Chinese investment firm Fosun Group is purchasing Ahava for 290 million shekels ($77 million US), Globes reports.
Ahava is a Dead Sea cosmetics company that is famous for sending salespeople to work in malls and shopping centers around the world. Once the deal is finalized, Fosun will have full control of Ahava.
"We feel very confident about the market in Israel and continue to seek suitable investment opportunities in different areas in the country. We are glad to have succeeded in acquiring such a famous, strong and successful brand as Ahava under this mutually beneficial agreement. We will endeavor to extend the success of this brand to China and other countries," said Fosun CEO Liang Xinjun.