Heartland to purchase 10.1% of Israeli Terminal X

The FOX group announces today the signature of an agreement between Heartland and Terminal X. Upon the completion of the public offering, Heartland will hold around 10.1% of Terminal X’s equity.

Heartland A/S is the investment arm of Danish businessman, Mr. Anders Holch Povlsen, and owner of significant holdings in a variety of industries, including fashion brands and leading fashion e-commerce platforms such as the British fashion site ASOS and the German fashion sites Zalando and About You.

The announcement about the partnership came while Terminal X announced that it considered an IPO in the Tel Aviv stock exchange. In the investor presentation released to the public, the company presented exceptional growth over the past three years, as well as impressive operational data and growth engines for the future.

Terminal X, is a multi-brand online company, owned by the FOX group, and became, in just three years, the Israeli leading site in its field. The site offers the Israeli audience more than 160 Leading international brands such as Nike, Mango, American Eagle, as well as leading local brands and a private label of Terminal X. Terminal X was the first site in Israel to offer one business day delivery, a unique customer experience through advanced technological and logistical capabilities, a fully automated robotic warehouse and a deep understanding in the field of fashion.

The FOX group is the leading and biggest retail group in Israel. The group holds a big and varied portfolio of 20 international and domestic brands, among them, Nike, Foot Locker, Mango, American Eagle, Billabong and more, side by side with its home brands such as FOX, FOX Home, Laline, Shilav and more. The group operates around 800 stores in Israel and in the world and employs 8,500 employees. The company has been listed in the stock exchange since 2002 and recently completed public offering and listing the shares of its subsidiary Retailors that operates the Nike, Foot Locker and Dream Sport networks. The listing was made simultaneously with the completion of the assignment of 10% of Retailors’ equity to Foot Locker’s Global company, a deal that reflects a huge faith expression in the Israeli group. The FOX group operates in several countries in Europe and Canada, in cooperation with Nike and Foot Locker and has a significant expansion plan for the next years.

Anders Holch Povlsen"We are very impressed by Terminal X. The company features remarkable capabilities with high sales growth together with a strong increase in business performance which motivated me to make this partnership. I strongly believe in the company, its capabilities and its growth potential.

Harel Wizel, owner and CEO of the FOX group: “I am glad about this strategic partnership with Heartland. The expression of faith, when coming from this particular partner, emphasizes Terminal X’s well deserved position next to the biggest global players and attests to its potential, power and capabilities, more than any grade or number.”

Nir Horovitz, CEO of Terminal X: “The partnership with Heartland will help Terminal X both in the domestic market, and in expanding to more countries. Terminal X provides its customers with a full buying experience in the highest international standards as a result of which we became the leading, most varied and biggest platform in Israel. Heartland has a proven record in identifying e-commerce players prior to their becoming global leaders and this partnership we are striking today is a strategic meaningful step towards the future of the company and its continued growth. “