ISRAEL: Spanish chain franchised

Gaon Holdings has signed a franchise agreement with Spanish toy retailer Imaginarium to set up branches in Israel.
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Imaginarium is aimed at the 0-14-year old age group. The ten-year franchise agreement calls for the establishment of ten stores by 2011.

It will be Gaon Holdings' first deal since the death of chairman Benny Gaon in May. The negotiations for the franchise agreement were started before his death, and the agreement was one of his requests.

Israel's toy market is dominated by the local Toys R Us Inc. franchise owned by Fishman Holdings and Leon Koffler, and by Kfar Hasha'ashuim.

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