G. Willi-Food International Announces Closing of Strategic Investment in Its Principal Shareholder, Willi-Food Investments
Posted on: Wednesday, 1 August 2007, 09:06 CDT
YAVNE, Israel, August 1 /PRNewswire-FirstCall/ -- G. Willi-Food International Ltd. (the "Company" or "Willi Food"), one of Israel's largest food importers and a single-source supplier of one of the world's most extensive range of quality kosher food products, today announced the closing of the transaction pursuant to which Zwi and Joseph Williger, majority owners of the Company's principal shareholder, Willi-Food Investments Ltd. ("Investments"), sold an aggregate of 3.9 million shares of Investments, constituting approximately 42% of the current outstanding shares of Investments, to Arcadi Gaydamak, an international businessman, for an aggregate purchase price of NIS171.3 million ($40.5 million). The signing of the agreement relating to this transaction was previously announced by the Company on June 25, 2007.
Under the terms of the agreement for this transaction, Zwi Williger has agreed to continue as CEO of Investments and its subsidiaries, including G. Willi-Food International Ltd.
About G. Willi-Food International, Ltd.
G. Willi-Food International Ltd. is one of Israel's largest food importers and a single-source supplier of one of the world's most extensive ranges of quality kosher food products. It currently imports, markets and distributes more than 400 food products manufactured by some 100 top-tier suppliers throughout the world to more than 1,000 customers. The Company excels in identifying changing tastes in its markets and sourcing high-quality kosher products to address them. For more information, please visit the Company's website at http://www.willi-food.co.il/.
Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, competition, changing economic conditions and other risk factors detailed in the Company's SEC filings.
Company Contact: G. Willi Food International Ltd. Gil Hochboim, Vice-President +972-8-932-2233 gil@willi-food.co.il IR Contact: The Global Consulting Group Christopher Chu +1-646-284-9426 cchu@hfgcg.com
G. Willi-Food International Ltd
CONTACT: Company Contact: G. Willi Food International Ltd, GilHochboim, Vice-Presiden, +972-8-932-223, gil@willi-food.co.il; IR Contact:The Global Consulting Group, Christopher Chu, +1-646-284-9426, cchu@hfgcg.com
Source: PRNewswire-FirstCall
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