Hamashbir Lazarchan is an Israeli chain of department stores. Hamashbir consists of 33 branches across the country.[1] It is distinct from its predecessors, the consumer cooperative Hamashbir (1916–1930), reorganised as the wholesale supplier Hamashbir Hamerkazi in 1930.[2] The original Hamashbir was set up with the goal of supplying the Jewish communities of Palestine with food at affordable prices during the shortage years of the First World War.
History
The chain was founded by the Histadrut in 1947. In 2003, Rami Shavit and a group of investors acquired the department store chain, operating the company under the new name, New Hamashbir Lazarchan Ltd.[3][1] In 2007, the company went public on the Tel Aviv Stock Exchange with a NIS 6.6 million stock offering and bonds valued at NIS 50 million.[1]