Israeli kosher foods specialist G. Willi-Food International is set to see its 90%-owned subsidiary, Gold Frost, buy a majority stake in a Danish dairy distributor.
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Gold Frost will hold a 51% share in the company, with the former owners retaining the remaining shares. The deal is expected to close in February, and Willi-Food said it expected revenue recognition of its new interests in the first quarter of fiscal 2008.
The new joint company will distribute both kosher and non-kosher dairy food products, Willi-Food said. Included in its range will be products such as blue cheese, Edam, Gouda, havarti and feta cheeses packaged for industrial, wholesale and retail distribution.
Willi-Food president and COO Zwi Williger said the Danish business had also secured a licence to export to the US.
“Our efforts to expand Gold Frost’s international reach and to begin a concerted dairy strategy in the US can now move forward,” he said.
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By GlobalDataHowever, Willi-Food also announced that negotiations to acquire a 51% majority interest in Baladi, a privately-owned kosher and halal meat processor based in Israel, have been terminated. Willi-Food said a final agreement had not been reached, and it was currently seeking legal remediation with respect to this transaction.
