Omer Adam and Aroma Music Buy 40.5% of Zappa Club Network

Singer Omer Adam and Aroma Music have bought 40.5% of Israel's Zappa performance-club network in a transaction disclosed on Monday. Their agreement also gives them responsibility for managing and developing the network, bringing the buyers into both its ownership and its day-to-day business. Under the resulting ownership structure, Delek Israel will retain 40.5% and businessman Golan Einat will retain 19%. The price paid by Adam and Aroma Music was not disclosed. About a month and a half earlier, Delek had bought Eventim's holding for NIS 20 million, raising its stake to 81% before the new partnership. That amount relates to the earlier purchase. Zappa's existing clubs include venues in Binyamina at Amphi Shuni, Haifa, Herzliya, Jerusalem, Latrun at Mini Israel, and Tel Aviv. Adam and Aroma Music will manage these clubs. Their reported plan is to develop the existing network and open additional venues, although no opening dates, new locations or expansion budget were given. Producer Benny Menashe, an Aroma Music partner, drove the transaction, while the singer's father, Yaniv Adam, led the deal for the family. Delek Israel's side was led by chief executive Yoram Eyal and deputy chief executive Keren Kopermintz. Menashe and Yaniv Adam already cooperate in entertainment production, artist representation and management, and ticket sales. Aroma Music's roster includes Idan Amedi, Shlomi Shabat and Eden Ben Zaken.