Israel food importer G. Willi-Food International has announced a change of majority owners in its principal shareholder.
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The company said today (10 November) that Zwi and Joseph Williger, former majority owners of the company’s principal shareholder, Willi-Food Investments, both exercised, through private companies under their control, their call option rights on all shares in Investments held by Arcadi Gaydamak.
The option rights were granted to them by Gaydamak in connection with loan and option agreements entered into between each of the private companies and himself.
Following the exercise of the call option rights, Zwi Williger currently holds around 33% of the outstanding shares of Investments, and Joseph Williger currently holds around 25% of the outstanding shares.
“By repurchasing the majority ownership of Willi-Food Investments, we have shown our commitment to Investments and to G. Willi-Food,” said Zwi Williger, chairman and COO of Willi-Food.
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By GlobalData“We have built one of the most significant Kosher food companies in Israel and are expanding our presence in international markets. We are focused on driving long-term, profitable growth by capitalising on our expertise in product innovation and expanding distribution channels both domestically and internationally.”
As part of the changes made by the new ownership and due to the volatility of the markets, the company said it has decided to discontinue its quarterly projections of revenue results and quarterly conference calls.
The company said it expects to report its quarterly and nine month results on 28 November.
