G. Willi-Food International terminates acquisition of Vitarroz Corp.
Intends to explore other potential acquisitions in the United States in order to enter the U.S. market.
28/09/05 G. Willi-Food International Ltd. (the "Company"), one of Israel's leading distributors of kosher food products, has announced that it had terminated the previously announced acquisition of Vitarroz Corp., a New Jersey-based distributor of Hispanic food products ("Vitarroz").
Zwi Williger, Chairman and COO of the Company said, "As part of our due diligence process, we conducted a detailed review of the financial condition of Vitarroz. It is unfortunate that as a result of issues that arose during the due diligence process the Company has elected not to go forward with the acquisition of Vitarroz. Willi-Food intends to explore other potential acquisitions in the United States in order to enter the U.S. market and expand Willi-Food's operations in the U.S. food industry."
