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G. WILLI-FOOD INTERNATIONAL ANNOUNCES CLOSING OF STRATEGIC
INVESTMENT IN ITS PRINCIPAL SHAREHOLDER, WILLI-FOOD INVESTMENTS
ZWI WILLIGER TO CONTINUE MANAGEMENT OF G. WILLI-FOOD INTERNATIONAL
YAVNE, ISRAEL - AUGUST 1, 2007 - 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 the closing of the transaction pursuant to
which Zwi and Joseph Williger, majority owners of the Company's principal
shareholder, Willi-Food Investments Ltd. (TASE: WLFD) ("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
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
(646) 284-9426
cchu@hfgcg.com