G. Willi-Food International in Advanced Negotiations to Acquire Majority Interest of Baladi Ltd.
December 06 2007 - 12:27PM
PR Newswire (US)
Baladi Ltd. is one of Israel's Major Kosher and Halal Meat
Processors YAVNE, Israel, December 6 /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 it is in advanced
negotiations to acquire 51% majority interest in Baladi Ltd to be
acquired through the issuance of shares by Baladi Ltd. Baladi Ltd.
is a private Israeli company and a large kosher and halal meat
processor in the region. The transaction is subject to approval by
Willi Food's board of directors and Israeli anti-trust authorities
in addition to execution of final documentation and due diligence
in accordance with Willi Food. There is no guarantee that an
agreement for this transaction will be signed, and if signed, that
it will close. Mr. Zwi Williger commented, "This accretive
transaction would further diversify our portfolio of quality kosher
products. The demand for kosher and Halal meat products in the
region is steadily rising, in addition Willi Food intends to
ultimately layer Baladi's product line into our global distribution
platform." 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 1,700
customers. Willi Food excels in identifying changing tastes in its
markets and sourcing high-quality kosher products to address them.
The Company's Gold Frost Ltd. subsidiary develops and distributes
kosher chilled and frozen dairy food products internationally,
while its Laish Israeli subsidiary and joint venture with the Baron
Family engage in the global import, export and distribution of
kosher products worldwide. 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
+972-8-932-1000 IR Contact: The Global Consulting Group Christopher
Chu +1-646-284-9426 DATASOURCE: G Willi Food International Ltd
CONTACT: Company Contact: G. Willi Food International Ltd. Gil
Hochboim, Vice President, +972-8-932-1000, ; IR Contact: The Global
Consulting Group, Christopher Chu, +1-646-284-9426,
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