Followers | 144 |
Posts | 27707 |
Boards Moderated | 3 |
Alias Born | 02/07/2004 |
Monday, January 29, 2007 6:41:43 AM
Monday January 29, 4:40 am ET
Accelerates U.S. Expansion Strategy
YAVNE, Israel, January 29 /PRNewswire/ -- G. Willi-Food International Ltd. (NASDAQ: WILC - News; 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, announced today that it has acquired the operations and assets (including inventory, account receivables, and account payables) of Laish Israeli Food Products Ltd., a U.S. importer and distributor of kosher food products for approximately $3.7 million in cash. Of this amount, $3.3 million was paid at closing and up to an additional $0.4 million is payable during the next 18 months, depending on collection of receivables. The sources for the purchase price are a bank loan in the amount of $1.5 million and cash on hand.
Laish Israeli has been in business for 15 years and currently distributes kosher products such as canned foods and candies to groceries, independent supermarkets and supermarket chains in the Tri-State area (New York, New Jersey and Connecticut). Its 2006 revenues were approximately $7.5 million. As part of the agreement, the former owner of the acquired company will remain with the operation for a minimum of two years to assist in the transition process.
Mr. Zwi Williger, President and COO of Willi-Food commented, "This acquisition is in line with in our strategy to expand Willi-Food's presence in the growing U.S. kosher market. Our innovative product lines will complement existing offerings and are designed to drive demand and margin growth. Moreover, we are now well positioned to establish retailer relationships at both the local and national levels in the United States."
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.
http://biz.yahoo.com/prnews/070129/ukm006.html?.v=93
Recent WILC News
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 09/23/2024 10:01:02 AM
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 09/09/2024 02:08:55 PM
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 09/03/2024 01:12:59 PM
- G. WILLI-FOOD INTERNATIONAL REPORTS THE RESULTS OF SECOND QUARTER 2024 • PR Newswire (US) • 08/13/2024 01:49:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/13/2024 01:30:14 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/02/2024 10:00:40 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/22/2024 10:29:38 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/17/2024 10:00:31 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/20/2024 10:00:44 AM
- G. Willi-Food international Reports the results of first quarter 2024 • PR Newswire (US) • 05/20/2024 10:00:00 AM
- G. WILLI-FOOD INTERNATIONAL ANNOUNCES DISTRIBUTION OF A NIS 10 MILLION (US$ 2.72 MILLION) DIVIDEND • PR Newswire (US) • 03/21/2024 01:10:00 PM
- G. WILLI-FOOD INTERNATIONAL REPORTS 9.0% INCREASE IN SALES AND A RECORD HIGH ANNUAL SALES IN 2023 • PR Newswire (US) • 03/21/2024 01:05:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/14/2024 09:07:46 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 02:00:29 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 01/16/2024 11:45:45 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/22/2023 12:57:53 PM
- G. WILLI-FOOD ANNOUNCES SHARE REPURCHASE PROGRAM • PR Newswire (US) • 12/22/2023 12:00:00 PM
- G. Willi-Food international reports the results of THIRD quarter 2023 • PR Newswire (US) • 12/21/2023 12:45:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/21/2023 12:21:21 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/28/2023 03:30:06 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM