Max Stock to lease logistics center in Ofakim from company owned by CEO Ori Max

Max Stock will lease a logistics center in Ofakim from a company owned by its CEO, Ori Max. The company, which specializes in the import and sale of stock products, signed a lease agreement with GT Holdings, in which Ori Max, CEO and director at Max Stock, holds 50%, and GT Real Estate (the parent company of GT and Van Holdings, owned by Gabriel Trabelsi) holds the remaining 50%.

As part of the deal, GT Holdings will build an additional logistics center for Max Stock, covering an area of 45,000 square meters, which will be used to store the goods it imports and purchases, in addition to two logistics centers it currently operates and storage services it receives from external suppliers. Max estimates that the investment in the logistics center and its adaptation to its needs will amount to approximately 20 million shekels.

The monthly rent that Max Stock will pay to the company of Ori Max and GT Holdings will be 1.7 million shekels, before VAT, and will increase by 5% each time the option is renewed. Construction of the logistics center began recently and is expected to be completed in December 2028. The lease period between Max Stock and GT Holdings was signed for 10 years from the date of delivery, and will be automatically extended twice for an additional five years each time. Max Stock will provide a bank guarantee in favor of GT Holdings, amounting to three months of rent, upon receipt of the logistics center at the end of construction.

Last August, Max Stock reported its intention to approve a 51% increase in Ori Max's annual compensation to 7.77 million shekels per year. The company's board of directors approved the change in the compensation policy and the update of the terms of Max's tenure, who holds 16.5% of the company's shares, and the company is asking the general meeting to approve a 40% increase in the monthly management fees paid to Max, to 280,000 shekels per month, compared to the management fees set in the previous agreement, and a 30% increase relative to the current management fees.

In addition, Max will be entitled to an annual bonus of 8–12 months of management fees if the company reaches a net profit target of 130–150 million shekels.

In the first half of the year, Max Stock presented a net profit amounting to 86 million shekels. In addition, the company is asking to approve for Max equity compensation with a total value of 5.2 million shekels, consisting of options and restricted shares. If the shareholders' meeting approves the compensation update, Max's annual compensation cost will be 7.8 million shekels, compared to an annual compensation cost of 5.14 million shekels in 2025. The transaction is not defined as a related-party transaction, because Ori Max is no longer a controlling shareholder in Max Stock and holds only 16.5% of the company's shares.