G. Willi-Food Signs Agreement to Purchase Controlling Interest in Shamir Salads - An Israeli Mediterranean Food Manufacturer
The agreement has been approved by Willi Food's Board of Directors, and closing is subject to approval from the Israeli Anti-Trust Authorities.
04/01/08 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, further to its announcement on November 2, 2007, it had signed a binding agreement with the owners of Shamir Salads pursuant to which the Company is expected to acquire a 51% interest in Shamir Salads. The agreement has been approved by Willi Food's Board of Directors, and closing is subject to approval from the Israeli Anti-Trust Authorities. Shamir Salads is an Israeli manufacturer and distributor of pre-packaged chilled kosher Mediterranean dips and spreads in Israel and abroad. The Company expects to consolidate the results of Shamir Salads following approval of the Israeli Anti-Trust Authorities.
Mr. Zwi Williger, President and COO of Willi Food commented, "We are extremely pleased to have signed this agreement and be in a position to expand our product offerings through Shamir Salad's line of kosher Mediterranean hummus, dips and spreads, appetizers and gourmet specialties. The popularity of Mediterranean style foods is growing not only in our home market but abroad as well. As part of Willi Food's growth strategy, we intend to build a manufacturing plant in the US that will allow for distribution of Shamir's product line all throughout North America."
