Israeli supermarket chain Osher Ad opened its first branch in New York, last week. The Brooklyn store, named Bingo, represents a $9 million investment by the company and a U.S.-based partner. Founded in 2009 by Aryeh Baum, Avrum Moshe Margalit and Yehuda Laniado, Osher Ad is Israel's fourth-largest supermarket chain, numbering 15 stores. According to a Walla news report, the near 7,000-square-foot store was set up in Brooklyn because of its large Jewish population and high demand for kosher foods. With 45,000 households to potentially cater to, the store could generate annual revenue of some $100 million. Should the store prove successful, Baum, Margalit and Laniado plan to open additional stores in cities with large Jewish communities, the report said. An Osher Ad statement quoted by Jewish Business News said: "We are happy to be the first Israeli retailer chain that has managed to break into the American market. This is an area with extremely high potential and we intend to continue to expand into other areas in the U.S."
Israeli supermarket chain Osher Ad opens New York store
Israel's fourth-largest supermarket chain opens branch in Brooklyn • With 45,000 households to potentially cater to, the store could generate revenue of $100 million a year • "We intend to continue to expand into other areas in the U.S.," chain says.
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