Israeli food importer and single-source kosher supplier G Willi-Food International has acquired the operations and assets of Laish Israeli Food Products, a US importer and distributor of kosher food products.
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The purchase price was approximately US$3.7m, of which $0.4m is payable over the next 18-months, depending on the collection of receivables. The deal was funded by a $1.5m loan.
Laish Israeli has been in business for 15 years and currently distributes kosher products such as canned foods and candies to grocers, independent supermarkets and supermarket chains in the Tri-State area. In 2006 it posted revenues of $7.5m.
Zwi Williger, president and COO of Willi-Food, said: “This acquisition is in line with in our strategy to expand Willi-Food’s presence in the growing US 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.”
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