G. Willi-Food Obtains Option to Acquire Assets of U.S. Distributor of Kosher Food Products
Under the terms of the Memorandum of Understanding, the Distributor granted to the Company the option, exercisable until January 31, 2007, to acquire all the assets of the Distributor.
19/12/06 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 that it has signed a binding Memorandum of Understanding with a U.S. company that imports, markets, sells and distributes kosher food products in the United States. Under the terms of the Memorandum of Understanding, the Distributor granted to the Company the option, exercisable until January 31, 2007, to acquire all the assets of the Distributor. Should the Company exercise the option, it would significantly increase the Company's ability to sell its products in the U.S.
There is no guarantee that this acquisition will occur. Completion of the transaction is subject to business, financial and legal due diligence to be conducted by the Company with respect to the Distributor, the execution of definitive agreements, as well as approval of the Board of Directors and other approvals required by law, such as the approval of the Israeli Restrictive Trade Practices Authority.
