G. Willi-Food International in Advanced Negotiations to Acquire Majority Interest of Baladi Ltd.
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.
07/12/07 G. Willi-Food International Ltd., 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, 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."
