YAVNE, Israel, July 8, 2019 /PRNewswire/ -- G. Willi-Food
International Ltd. (NASDAQ:
WILC) (the "Company" or "Willi Food"), a
global food company specializing in the development, manufacturing,
marketing and international distribution of kosher foods, today
provided an update regarding two separate and independent
memorandums of understanding, as described in the Company's press
release on April 22, 2019 (the
"MOU's" and the "Transactions", as the case may be).
The Company provided the following update regarding the two
potential Transactions:
- Memorandum of understanding for an investment in Miki Food
Industries Fish and Salads (1992) Ltd.:
The parties are still in the stage of due diligence in order to
complete the deal to sign a specific agreement that will include
conditions precedent which are customary in agreements of this
kind.
- Memorandum of understanding for an investment in Bikurei
Hasadeh North 1994 Ltd.:
In light of discussions between the parties, it was decided at this
stage to delay the negotiations and the due diligence process, and
it was agreed that the parties would resume discussions in a few
months.
There is no guarantee that either of the Transactions will be
completed or, if completed, what the final terms of the
Transactions will be.
ABOUT G. WILLI-FOOD INTERNATIONAL LTD.:
G. Willi-Food International Ltd. (http://www.willi-food.com) is
an Israeli-based company specializing in high-quality,
great-tasting kosher food products. Willi-Food is engaged directly
and through its subsidiaries in the design, import, marketing and
distribution of over 600 food products worldwide. As one of
Israel's leading food importers,
Willi-Food markets and sells its food products to over 1,250
customers and 2,500 selling points in Israel and around the world including large
retail and private supermarket chains, wholesalers and
institutional consumers. The Company's operating divisions include
Willi-Food in Israel and Gold
Frost, a wholly owned subsidiary who designs, develops and
distributes branded kosher, dairy-food products.
FORWARD LOOKING STATEMENT
This press release contains forward-looking statements within
the meaning of safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 relating to future events or our
future performance, such as statements regarding trends, demand for
our products and expected sales, operating results, and earnings.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied in those forward-looking
statements. These risks and other factors include but are not
limited to: the risk that the potential acquisitions described in
this press release will be completed, monetary risks including
changes in marketable securities or changes in currency exchange
rates- especially the NIS/U.S. Dollar exchange rate, payment
default by any of our major clients, the loss of one of more of our
key personnel, changes in laws and regulations, including those
relating to the food distribution industry, and inability to meet
and maintain regulatory qualifications and approvals for our
products, termination of arrangements with our suppliers, loss of
one or more of our principal clients, increase or decrease in
global purchase prices of food products, increasing levels of
competition in Israel and other
markets in which we do business, changes in economic conditions in
Israel, including in particular
economic conditions in the Company's core markets, our inability to
accurately predict consumption of our products and changes in
consumer preferences, our inability to protect our intellectual
property rights, our inability to successfully integrate our recent
acquisitions, insurance coverage not sufficient enough to cover
losses of product liability claims, risks associated with product
liability claims and risks associated with the start of credit
extension activity. We cannot guarantee future results, levels of
activity, performance or achievements. The matters discussed in
this press release also involve risks and uncertainties summarized
under the heading "Risk Factors" in the Company's Annual Report on
Form 20-F for the year ended December 31,
2018, filed with the Securities and Exchange Commission on
March 27, 2019. These factors are
updated from time to time through the filing of reports and
registration statements with the Securities and Exchange
Commission. We do not assume any obligation to update the
forward-looking information contained in this press
release.
Company Contact:
G. Willi - Food International Ltd.
Amir Kaplan, Chief Financial
Officer
(+972) 8-932-1000
amir.k@willi-food.co.il
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SOURCE G. Willi-Food International Ltd.