G Willi-Food International has signed a memorandum of understanding that allows it to acquire a US company that imports, markets, sells and distributes kosher food products in the US.
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G Willi-Food is one of Israel’s largest food importers and a single-source supplier of one of the world’s largest suppliers of kosher foods. In a statement it said it had been granted the option, exercisable until 31 January 2007, to acquire all the assets of the unnamed distributor.
“Should the company exercise the option, it would significantly increase the company’s ability to sell its products in the US,” the statement said.
However, G Willi-Food added that 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.
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