First Israeli supermarket to open in US

Israeli chain Osher Ad will be the first Israeli supermarket to open a foreign branch as they prepare to open their New York store, according to Bloomberg Business.

The kosher store purchased a 5,700 square-meter (70,000 square-foot) plot in Brooklyn from the Pathmark supermarket chain.

The Jerusalem-based company is seeking to cater to the Borough Park Haredi community, which includes about 45,000 households.

"We have been surveying the area for a number of years in expectation of this opportunity," said Aryeh Baum, one of the owners of Osher Ad. "Commercial properties that suit our concept in terms of size are very rare in this area, where one of the largest ultra-Orthodox Jewish communities in the world resides."

Osher Ad will open their store along with an American partner at a $9 million investment, with an expected annual revenue of $100 million.  The opening is expected to take place by the end of August.

The American branch will be managed by both a local and Israeli manager. It will sell kosher products at low prices while catering to the needs of the American Jewish market, providing a large takeaway section.

"The common denominator between Israeli and American Jewish communities is the need for kosher products and low prices," said Baum.

Osher Ad, which has 15 locations throughout the country, is Israel’s fourth largest supermarket chain, and expects to open more U.S stores in areas with a high concentration of observant Jews.

Source: http://www.israelnationalnews.com/News/News.aspx/209667

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