G. Willi-Food International, the Israel-based kosher food specialist, has revealed its plan to invest in local business Bikurei Hasadeh has been put on hold.

In a statement today (8 July), G. Willi said its plans to take a stake in Bikurei Hasadeh – which is engaged in the import, distribution and marketing of fresh fruits and vegetables to the retail and institutional markets in Israel – have been postponed but not abandoned.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

“In light of discussions between the parties, it was decided at this stage to delay the negotiations and the due diligence process, and it was agreed that the parties would resume discussions in a few months,” it said.

The deal was originally announced at the end of April. The plan was to issue to G. Willi 41% of Bikurei Hasadeh’s issued share capital for ILS70m (US$19.4m at the then exchange rate).

Simultaneously, the founding shareholders of Bikurei Hasadeh would sell to G. Willi 10% of its issued share capital, meaning post-deal it would have a 51% stake in the business.

At the same time, it was announced G.Willi would also be investing in another local business, Miki Food Industries, which is engaged in the production of a range of salads, fish salads and smoked fish products. The plan was for G. Willi and Miki to establish a new company that will acquire from Miki all of its assets and activities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In today’s statement, G. Willi said that deal is not yet over the line.

“The parties are still in the stage of due diligence in order to complete the deal to sign a specific agreement that will include conditions precedent which are customary in agreements of this kind,” it said.

G. Willi said it was making the announcement about the deals in response to speculation in the local media.

It said there is no guarantee that either of the transactions will be completed or, if completed, what the final terms of the transactions will be.