The story
Founded by Histadrut in 1947, in Israel.1
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. 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.
From Wikipedia’s article on Hamashbir Lazarchan, shared under CC BY-SA 4.0.4