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G. Willi-Food International Announces Strategic Investment in Its Principal Shareholder, Willi-Food Investments

Posted on: Monday, 25 June 2007, 09:05 CDT

YAVNE, Israel, June 25 /PRNewswire-FirstCall/ -- - Zwi Williger to Continue Management of G. Willi-Food International; Expansion Strategy to Remain on Track

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 that Zwi and Joseph Williger, majority owners of the Company's principal shareholder, Willi-Food Investments Ltd. ("Investments"), signed a share purchase agreement to sell an aggregate of 3.9 million shares of Investments, constituting approximately 45% of the currently outstanding shares of Investments, to Arcadi Gaydamak, an international businessman, for an aggregate purchase price of NIS171.3 million ($40.5 million).

The transaction is expected to be executed at NIS 43.84 ($10.36) per share, representing a 70% premium over the market price of Investments on the day of signing. Zwi Williger would sell approximately 30.5% of his outstanding shares in Investments, leaving him with approximately 8% of the outstanding shares; and Joseph Williger would sell his entire holdings in Investments. The transaction is subject to the approval of the Israeli Anti-trust authorities.

Following completion of the transaction, Zwi Williger is to continue to act as CEO of Investments and its subsidiaries, including G. Willi-Food International Ltd.

Zwi Williger commented: "Our commitment to Investments and G. Willi-Food remains as strong as ever. We have built one of the most significant Kosher food companies in Israel and are rapidly expanding our presence in international markets. We are focused on driving long-term, profitable growth by capitalizing on our expertise in product innovation and expanding distribution channels both domestically and internationally."

Mr. Gaydamak is well-known philanthropist and the primary shareholder of several public companies in Israel including Ocif Investment & Development Ltd., Petro Group Ltd. and Gilon Investments (1979) Ltd.

The share price of Investments on the Tel Aviv Stock Exchange rose 25% when the deal was announced in Israel yesterday.

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. Chen Shlein, CFO +972-8-932-1000 chen@willi-food.co.il IR Contact: The Global Consulting Group Christopher Chu +972-646-284-9426 cchu@hfgcg.com

G. Willi-Food International Ltd

CONTACT: Company Contact: G. Willi Food International Ltd., ChenShlein, CFO, +972-8-932-1000, chen@willi-food.co.il; IR Contact: The GlobalConsulting Group, Christopher Chu, +972-646-284-9426, cchu@hfgcg.com

Source: PRNewswire-FirstCall

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