Dynamic recently entered insolvency proceedings, but this morning the court approved its sale to the Ronen Elad Holdings Group for NIS 178 million. Chairman Elad: "We believe in the company's potential, in the technology, and above all in the dedicated employees"

The court approved this morning (Thursday) the sale of the Dynamic Wet Wipes company to the Ronen Elad Holdings Group Ltd. for NIS 178 million. The decision was made after the court preferred the group's offer over competing offers.

The court's decision came following the recommendation of the trustees appointed to the proceeding, Adv. Avichai Vardi and Adv. Alon Freadkin, who examined several offers to purchase the company and recommended favoring the offer of the Ronen Elad Holdings Group, even though the group's offer was identical in amount to a competing offer. Elad was represented in the transaction by Adv. Udi Gindes.

Dynamic Wet Wipes is one of the leading companies in Israel in the field of wet wipes manufacturing, with decades of activity and a production plant in Ashdod. The company develops and manufactures a wide range of products for the Israeli and international markets, including baby wipes, disinfecting and cleaning wipes, makeup removal and personal care wipes, surface cleaning wipes, and specialized wipes for industry and institutions. In addition, the company manufactures products for private labels and retail chains in Israel and worldwide, and exports its products to many countries. Among others, the company manufactures wipes for Shufersal and for the Target chain.

Recently, the company entered insolvency proceedings due to financial difficulties. The current transaction is expected to enable the continuation of the company's regular operations, preserve the jobs of its employees, and create a basis for its growth in the coming years.

For the Ronen Elad Holdings Group, which operates through investments in the fields of infrastructure, industry, and security (and holds, among others, the Synergy Group and control of the publicly traded Aerodrome Group), this acquisition joins a series of moves it has made in recent years to expand its activity in the economy.

Ronen Elad, chairman of the Ronen Elad Holdings Group Ltd., stated following the approval: "This acquisition is another step in the group's growth strategy and in our vision to be a significant player in the Israeli economy. We are happy to invest in Dynamic and believe in its potential, in the technology, the production capabilities, and above all in its dedicated employees. We will work together to lead the company to growth, renewal, and prosperity, from a long–term perspective and creating value for the employees, the customers, and the Israeli economy."