INDEX / DIRECTORY / KETER GROUP / ECONOMIC

Keter Group ECONOMIC

ECONOMIC AUDIT UPDATED 2026-09-22
Economic Score 9.00 /10 B Keter Group - Complicity Index 778
Economic 9.00

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Supply Chain & Sourcing Relationships

Keter Group is a resin/plastics household-and-garden manufacturer, and no public evidence identified establishes any commercial relationship between Keter and Israeli agricultural aggregators or exporters, including Mehadrin, Hadiklaim, Galilee Export, Agrexco successors, or dealings in produce categories such as dates, avocados, citrus, herbs, or potatoes; this sub-category appears structurally inapplicable to a manufacturer of resin household and garden goods.1 Trade-data records show Keter Plastic Ltd. of Herzliya functioning as exporter/shipper of its own manufactured goods, including a documented 4,605 kg shipment from Haifa, Israel to Illinois, United States, meaning Keter was recorded as manufacturer/exporter of its own goods rather than importer of third-country agricultural goods.1 no public evidence identified of counter-seasonal Israeli produce procurement patterns tied to Keter, or of Israeli-origin agricultural products reaching retail shelves via Keter as distributor or reseller.1

Keter entered a multi-year materials-science partnership with UBQ Materials, an Israeli waste-to-thermoplastic technology company, announced on 19 April 2021, to incorporate UBQ™ bio-based thermoplastic into Keter resin-product lines toward a 55% recycled-content target by 2025.2 The partnership was linked to UBQ’s planned industrial-scale Netherlands facility, targeted at roughly 72,000 tonnes annually, with one-third intended for Keter.2 This was described as a circular-economy materials partnership; no defense, security, or dual-use dimension was identified, and no public evidence identified confirms its status in 2025–2026.2

Product Origin, Labeling & Regulatory Compliance

Who Profits documented that Keter Plastic operated a manufacturing facility in the Barkan Industrial Zone, a settlement industrial park in the West Bank near Ariel established in 1981–82 on land from the Palestinian villages of Haris, Bruqin, and Sarta.3, 4, 5, 6 On 21 March 2014, Who Profits researchers documented two Keter trucks parked at the Barkan facility over a weekend, which it treated as evidence of an active operational link contrary to a company denial of occupied-territory operations.3, 4 By November 2016, Who Profits obtained visual evidence of no signage, trucks, or commercial movement and assessed Keter’s presence in the Occupied Palestinian Territory as discontinued.3, 4

Boycott-campaign literature states that Keter products were earlier sold under licence or co-branding as “Black & Decker”-branded resin goods and distributed through retailers including Home Depot, Walmart, Costco, Amazon, Canadian Tire, Rona, Ace Hardware, BJ’s, Lowe’s, Sears, Target, and Wayfair.5, 6, 7 A widely repeated boycott-campaign claim originating in Presbyterian Church USA/MRTI and related campaign literature asserts that Keter did not distinguish country-of-origin labels between goods made in Israel and at the Barkan facility, reportedly labelling both “Made in Israel.”8, 7 This claim could not be independently verified through direct document retrieval and remains an unverified campaign claim rather than a confirmed regulatory finding.8, 7

No public evidence identified of a UK DEFRA, EU, or other government customs or regulatory enforcement action specifically against Keter for settlement-origin mislabelling.3, 4, 8, 7 no public evidence identified of a Keter public statement or policy specifically addressing sourcing or labelling from occupied or contested territories, apart from its 2014 denial, reported by Who Profits, that it “does not own any facility or operation” in territory the UN defines as occupied; Who Profits’ contemporaneous field evidence called that denial into question.3, 4

No public evidence identified that Keter appears in the current OHCHR settlement-business database, most recently updated in September 2025, or in UN Special Rapporteur Francesca Albanese’s 2 July 2025 report A/HRC/59/23.9, 10 The documented Barkan activity was assessed by Who Profits as ending by November 2016, before the 19 July 2024 ICJ Advisory Opinion and November 2024 ICC arrest warrants.3, 4 Keter’s 2024 report confirms continuing general operations after those dates, but does not identify settlement activity; no public evidence identified of settlement-linked activity continuing after November 2016 or new settlement-related conduct since 7 October 2023.11

Investment, Capital & Financial Exposure

Keter’s operating investment is concentrated in its Israeli manufacturing base rather than constituting a distinct foreign-direct-investment programme into Israel, because Keter is the Israeli-origin operating entity in that relationship.12, 13 no public evidence identified of a dedicated Keter innovation lab, accelerator programme, or Israeli data-centre investment beyond the UBQ partnership and ordinary manufacturing research and development.2

Keter’s ownership changed in 2016, when the founding Sagol family sold 80% to UK-headquartered private-equity firm BC Partners for a reported US$1.4–1.7 billion, with PSP Investments co-investing and the Sagol family retaining approximately 20%.13, 14, 3 On 29 April 2024, senior lenders completed a consensual recapitalisation that transferred 100% of Keter Group and its subsidiaries to the lender group, eliminated the residual BC Partners, PSP, and Sagol-family equity interests, and issued new shares stapled to holding-company PIK notes.15, 16, 17, 18, 19

S&P reported that the restructuring converted approximately €725 million of first-lien debt into a new term loan and approximately €652 million into holding-company PIK debt, with post-transaction balances reported as €728 million and €698 million respectively, alongside an existing €50 million super-senior bridge loan.18, 19 Keter’s 2024 Sustainability Report states that creditors acquired Keter during 2024 and that Keter Group became a wholly owned subsidiary of UK-incorporated Keter Group Holding Limited.11, 20

A 17 April 2025 9fin report stated that Keter refinanced approximately €725 million of 2029 term-loan debt with funding from unnamed “local Israeli banks,” repaying term-loan lenders at par; it reported CVC, Carlyle, and Sculptor among the largest holders of that refinanced loan.21 This reports post-2024 Israeli-bank debt financing, not equity acquisition, ownership percentages, board control, or profit rights beyond loan terms.21 A Glenbrook Park CLO DAC report dated 8 January 2025 recorded positions in Keter Group B.V. Facility B, Keter Group Holding Limited Holdco PIK Facility B, and an instrument labelled “Keter Holdco Shares.”22 Its displayed 18.20% figure was a share of the CLO’s collateral portfolio, not a Keter ownership percentage; the report does not establish the vehicle’s beneficial owner, governance rights, Keter equity percentage, or continued holding after the April 2025 refinancing.22

Invesco Senior Income Trust’s SEC filing for the period ended 31 August 2024 disclosed two Keter Group B.V. term-loan positions, both acquired 29 April 2024: €1.628 million principal maturing 28 December 2029 and €3.175 million principal maturing 31 December 2029.23 The filing establishes debt exposure, not an equity percentage, board right, or beneficial ownership of Keter Group Holding Limited.23

PSP Investments, Keter’s former 2016–2024 co-investor, is separately reported by Just Peace Advocates and Breach Media to hold, in its broader and unrelated portfolio, reported stakes in five companies named in the OHCHR settlement-business database: Airbnb, Booking Holdings, Expedia, Tripadvisor, and Motorola Solutions.24, 25 These are reported portfolio holdings of a former co-investor, not evidence connecting Keter’s operations to those companies.24, 25 no public evidence identified of Keter itself holding Israeli sovereign bonds, Israeli-domiciled equities, or Israel-focused funds.24, 25

Operational Presence & Market Activity

Keter’s headquarters and registered operational office is at 1–2 Sapir Street, Herzliya Industrial Zone, Israel.12, 3, 1 Karmiel is a confirmed Israeli production location, and Keter’s 2024 report states that it operated two manufacturing sites there during 2024.26, 11 Keter also operates, or has operated, a chain of retail stores throughout Israel.12

As of 2016, prior to the BC Partners sale, Keter operated roughly 29–30 production plants globally across Israel, the United States, and Europe.12, 13 Sources from 2020–2024 variously reported 16, 20, 21, or 24 plants across Israel, the United States, Canada, Hungary, Italy, Luxembourg, the Netherlands, Poland, Spain, and the United Kingdom.12, 19, 27, 28 Keter’s 2024 report provides the most recent stated footprint: 20 manufacturing plants across 10 countries, with sales distributed 51% in Europe, 42% in North America, and 7% in other countries; Israel is named within the manufacturing footprint.11 The report does not provide Israel-specific revenue.11

Israel-specific workforce was reported at approximately 1,400 employees in the 2016 era.13 Keter’s 2024 Sustainability Report identifies Israel as its largest single-country workforce, representing 42% of the global workforce; against the report’s approximately 3,238-person global headcount, this is approximately 1,360 employees in Israel.11 Global headcount was approximately 4,900 in 2022–2023, then estimated at 3,238 in 2024 and approximately 3,180 in 2025, consistent with reported post-recapitalisation restructuring and cost reduction.12, 11 no public evidence identified of Keter’s specific Israeli corporate-tax registration, Preferred Technological Enterprise designation, or a specific investor-material characterization of the Israeli market.27, 28

Corporate Structure & Foundational Ties

Keter was founded in 1948 in Jaffa as a small workshop producing resin combs, toys, and household utensils.12, 13 Joseph Sagol, father of Sami and Itzhak Sagol, was among its founders and bought out his partners in 1971, after which the business passed to family management.12, 13 Keter is therefore Israeli-founded and Israeli-originated, rather than a foreign company that later acquired an Israeli operating subsidiary.12, 13 Its operational and management headquarters remains in Herzliya.12, 3

The 2021 F-1 and F-1/A filings identified Krona Holding (Luxembourg) I S.à r.l. as the then-existing Luxembourg parent and described Keter Group S.A. as a Luxembourg société anonyme incorporated on 20 May 2021, registry number B255799, in anticipation of a proposed IPO.27, 28 Those filings pre-date the 2024 creditor restructuring and do not establish the current ownership structure.27, 28 Exhibit 21.1 to the 2021 F-1 listed Keter Group B.V. in the Netherlands and Israeli entities including Krona Resin (2016) Ltd., Keter Home and Garden Products Ltd., Krona Tools Ltd., Keter Tools L.P., I 4 Valley – Karmiel Incubator for Smart Industry Ltd., Israel Robotics Consortium for the Development of Intuitive Assembly Technologies in Industrial Applications (R.A.), and Circle Consortium (R.A.).29 This is a historical subsidiary list, not a confirmed complete 2026 group chart.29

Keter Group Holding Limited, company number 15619417, was incorporated in the United Kingdom on 5 April 2024 and is the UK holding-company issuer of EUR notes due 2029 admitted to The International Stock Exchange’s Official List on or about 25 July 2024.20, 30 Its Companies House PSC record has stated since 29 April 2024 that it knows, or has reasonable cause to believe, that there is no registrable person or registrable relevant legal entity with significant control.31 That statutory statement does not establish that creditors lack an economic interest.31

The public ownership table is necessarily incomplete:

Entity / categoryDomicilePublicly established interestPublicly established ownership, appointment, or veto rights
Keter Group Holding LimitedUnited KingdomKeter Group became its wholly owned subsidiary in the 2024 creditor restructuring.11, 20100% group-level ownership is stated; no public shareholder table is identified.11, 31
Senior lenders / creditorsNot individually disclosedReceived all group ownership on 29 April 2024.18, 19100% collectively; no public lender-by-lender allocation, controlling parent, beneficial owner, board appointment, or veto right identified.18, 19, 31
Invesco Senior Income TrustUnited StatesSEC-disclosed Keter Group B.V. loan exposure.23Debt amounts only; no equity percentage or governance right disclosed.23
CVC, Carlyle, and SculptorNot established in reviewed primary corporate recordsReported as major holders of the refinanced term loan.21no public evidence identified of Keter equity percentages, beneficial ownership, board appointments, or veto rights.21
Glenbrook Park CLO DACIrelandReported holder of Keter-linked debt and a “Keter Holdco Shares” instrument as of 8 January 2025.22no public evidence identified of its Keter equity percentage, beneficial owner, governance right, or continuing position.22
Glas Trustees LimitedUnited KingdomPreviously registered as a ≥75% PSC and holder of director-appointment rights.31Ceased on 29 April 2024; no evidence identified that it remained an owner thereafter.31

As of April 2025, Keter reported a seven-director board, four independent directors, and six non-executive directors, led by Itzhak Wiesenfeld; it described remuneration/nominations, audit, and strategy board teams without identifying lender-specific appointments or veto rights.11 Companies House lists Pepijn René Dinandt, Gilead Halevy, Itzhak Wiesenfeld, Ehud Sagi, Jonathan Avram Kolodny, Niraj Patel, Nadav Tiomkin, and John Henry Aldworth Wyatt as current directors of Keter Group Holding Limited.31 The record identifies Halevy, Kolodny, and Sagi as Israeli and/or Israel-resident, Tiomkin as Israeli and resident in the United States, and Wiesenfeld as British/Israeli and resident in the United Kingdom.31 Nationality, residence, and directorship do not establish share ownership or lender attribution.31

No public evidence identified that the creditor-owned structure establishes current Israeli beneficial ownership, Israeli tax residency, or Israeli-directed profit flows.11, 31, 23 Israeli-resident directors and Israeli operating subsidiaries establish operational and governance connections, not beneficial ownership or profit allocation.11, 31 no public evidence identified that separate Israeli investments by a creditor-owner or parent are operationally or financially integrated with Keter; the disclosed Invesco position and reported lender/CLO instruments do not establish such integration.23, 21, 22

No public evidence identified of Israeli state ownership, government board appointees, Israeli government procurement or defense contracts, critical-national-infrastructure designation, reservist-pay policy, or golden-share governance mechanisms for Keter.11 no public evidence identified of founder shares or charter provisions tying Keter governance to Israeli state-policy objectives.11

Keter’s acquisitions have been of non-Israeli companies that became subsidiaries: L.M. Lipski, Allibert Sanitaire, Curver Consumer Products, Stewart Plastics, and ABM Italia.12 no public evidence identified of Keter acquiring an Israeli operating company as a subsidiary.12 CEO Udi Sagi, a 15-year Keter veteran, was appointed on 8 January 2025, and further leadership appointments were announced on 9 September 2025 for a North American growth strategy.32, 33 Zachi (Tzachi) Wiesenfeld serves as chairman.32, 11 no public evidence identified linking current controlling principals to personal investments in Israeli defense-sector entities or settlement organizations.32, 33, 11

Sami Sagol, former majority owner and chairman until the 2016 sale and a 20% holder until the 2024 recapitalisation, is documented as a major Israeli philanthropist with personal and family-office investments in academic and medical-research institutions, including the Sagol Neuroscience and Longevity Network, Weizmann Institute, Reichman University, and University of Haifa.13 These are documented as academic and medical philanthropy; no public evidence identified links them to Israeli defense, settlement, or military entities, or identifies Israel Bonds purchases by Sami Sagol or the Sagol family.13

Profit Repatriation & Economic Contribution

No public evidence identified of Keter publicly disclosing Israel-specific revenue, profits, post-2024 repatriation flows, Israeli tax residency, PTE status, or Israeli corporate-income-tax treatment.11, 31, 21 Global group revenue was reported at approximately €1.64 billion in 2022 and estimated at €1.5 billion in 2023, a projected decline of roughly 10%.19 Keter’s 2024 report gives regional sales distribution but does not quantify Israel-specific revenue.11

Before the 2024 recapitalisation, the ownership structure directed residual equity interests to BC Partners, PSP Investments, and the Sagol family.13, 14 Since 29 April 2024, Keter Group has been wholly held at group level by UK-based Keter Group Holding Limited and collectively owned by senior lenders through the creditor restructuring.18, 19, 11, 20 no public evidence identified quantifying the direction or scale of current outward profit repatriation from Israeli operations to the UK holding company, Dutch or Luxembourg entities, individual lender-owners, or Israel.11, 31, 23, 21

The April 2025 refinancing establishes a debt-financing relationship with unnamed Israeli banks, but does not establish equity, board control, tax residence, or Israeli-directed profits.21 Keter’s Israeli operating presence and regional management structure, including a Head of Israel, document operations rather than beneficial ownership or profit allocation.11

Keter is characterised in trade-press analysis as one of the five major global plastic/resin-furniture companies, alongside Nilkamal, Supreme Industries, Tramontina, and Cello, and elsewhere as one of Israel’s largest manufacturers of resin-based outdoor and garden furniture.12 no public evidence identified of a formal Israeli-government economic designation, including “sector anchor” status, for Keter.12, 11

Footnotes

  1. https://panjiva.com/Keter-Plastic-Ltd/1152272 ↩ ↩2 ↩3 ↩4

  2. https://www.ubqmaterials.com/keter-group-partners-with-ubq-materials-to-produce-sustainable-home-and-garden-goods-at-scale/ ↩ ↩2 ↩3 ↩4

  3. https://www.whoprofits.org/companies/company/4060?keter-plastic-keter-group= ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9

  4. https://www.whoprofits.org/publications/report/133?keter-plastic-ends-its-activity-in-the-occupied-palestinian-territory= ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  5. https://www.cjpme.org/fs_249 ↩ ↩2

  6. https://www.indymedia.org.uk/en/2012/01/491655.html ↩ ↩2

  7. https://pma.pcusa.org/site_media/media/uploads/mrti/pdfs/boycott101_summary-sheet.pdf ↩ ↩2 ↩3 ↩4

  8. https://unjppi.ca/wp-content/uploads/2024/09/unsettling-goods-factsheet-keter.pdf ↩ ↩2 ↩3

  9. https://www.ohchr.org/en/business/bhr-database ↩

  10. https://www.ohchr.org/en/documents/country-reports/ahrc5923-economy-occupation-economy-genocide-report-special-rapporteur ↩

  11. https://ketergroup.com/wp-content/uploads/2025/07/Keter_Sustainability_Report_2024.pdf ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13 ↩14 ↩15 ↩16 ↩17 ↩18 ↩19 ↩20 ↩21 ↩22

  12. https://en.wikipedia.org/wiki/Keter_Group ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13 ↩14

  13. https://www.jta.org/2016/07/21/israel/israeli-plastics-firm-keter-sells-most-of-company-in-1-7-billion-deal ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10

  14. https://www.investpsp.com/en/news/bc-partners-and-psp-investments-to-acquire-keter-group-from-the-sagol-family/ ↩ ↩2

  15. https://www.bloomberg.com/news/newsletters/2024-03-09/creditors-take-over-keter-from-bc-partners-and-psp-in-debt-deal ↩

  16. https://www.bloomberg.com/news/articles/2024-03-01/bc-partners-keter-sale-falters-triggering-creditor-takeover ↩

  17. https://news.bloomberglaw.com/bankruptcy-law/keter-creditors-to-take-over-company-after-sale-process-failed ↩

  18. https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3162526 ↩ ↩2 ↩3 ↩4 ↩5

  19. https://www.milbank.com/en/news/milbank-advises-senior-lenders-to-keter-group-on-transfer-of-ownership.html ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  20. https://find-and-update.company-information.service.gov.uk/company/15619417/filing-history ↩ ↩2 ↩3 ↩4

  21. https://9fin.com/insights/keter-tlb-bank-refi ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  22. https://ise-prodnr-eu-west-1-data-integration.s3-eu-west-1.amazonaws.com/202502/d40d0626-c397-48ca-b441-7c3b8eacfa24.pdf ↩ ↩2 ↩3 ↩4 ↩5

  23. https://www.sec.gov/Archives/edgar/data/1059386/000119312524249732/d831212dncsrs.htm ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  24. https://breachmedia.ca/canadian-pension-funds-invested-israeli-apartheid/ ↩ ↩2 ↩3

  25. https://www.justpeaceadvocates.ca/federal-psp-investments-in-companies-complicit-with-international-law-violations/ ↩ ↩2 ↩3

  26. https://en.globes.co.il/en/article-keter-group-to-be-offered-for-sale-1001452473 ↩

  27. https://www.sec.gov/Archives/edgar/data/1866907/000119312521274987/d145497df1.htm ↩ ↩2 ↩3 ↩4

  28. https://www.sec.gov/Archives/edgar/data/1866907/000119312521354191/d145497df1a.htm ↩ ↩2 ↩3 ↩4

  29. https://www.sec.gov/Archives/edgar/data/1866907/000119312521286131/d145497dex211.htm ↩ ↩2

  30. https://tisegroup.com/umbraco/surface/proxyapi/newspdf?id=338294&index=0 ↩

  31. https://find-and-update.company-information.service.gov.uk/company/15619417/persons-with-significant-control ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13

  32. https://www.jpost.com/business-and-innovation/all-news/article-836621 ↩ ↩2 ↩3

  33. https://www.businesswire.com/news/home/20250909591440/en/New-leadership-appointments-at-Keter-Group-to-support-North-American-growth-strategy ↩ ↩2