G. Willi-Food Closes Transaction to Form Joint Global Kosher Trade and Export Company
April 11 2007 - 7:57AM
PR Newswire (US)
YAVNE, Israel, April 11 /PRNewswire-FirstCall/ -- G. Willi-Food
International Ltd. (NASDAQ:WILC) (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 it had closed its previously
announced transaction with the Baron Family (an unrelated third
party), kosher food exporters located in Israel, to form a joint
kosher trade and export company. As previously announced, the
Company holds a 50.1% interest in the new company, and the Baron
family holds the remaining interest, and under the terms of the
agreement between the parties, all of the current food export
operations of the Baron family will be executed under the new
entity. 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/. 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
revenues, 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: changes
affecting currency exchange rates, including 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, in particular Arla Foods amba,
loss of one or more of our principal clients, 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 risks associated
with product liability claims. 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, 2005, filed with the Securities and Exchange Commission on May
31, 2006. 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.
Contact: G. Willi Food International Ltd. Chen Shlein, CFO (+972)
8-932-2233 IR contact: The Global Consulting Group Christopher Chu
+1-646-284-9426 DATASOURCE: G Willi Food International Ltd CONTACT:
Contact: G. Willi Food International Ltd., Chen Shlein, CFO, (+972)
8-932-2233, ; IR contact: The Global Consulting Group, Christopher
Chu, (+1)-646-284-9426,
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