The Israeli cosmetics firm Ahava will be fully acquired by a Chinese investment group for $77 million.
The Fosun Group on Sunday night in Jerusalem signed an agreement to purchase the Dead Sea skin care products company, the Israeli business daily Globes reported.
Ahava has been a target of the Boycott, Divestment and Sanctions movement against Israel over its factory in Mitzpeh Shalem, located about one mile from the western shores of the Dead Sea in the eastern West Bank, as well as initiatives targeting only products made by Israelis in the West Bank and other disputed territories, namely the Golan Heights and East Jerusalem.
Last month, the company confirmed plans to open a plant in Ein Gedi, located within Israel’s pre-1967 borders. It is not known if the new plant eventually will supplant the factory in Mitzpeh Shalem.