G. Willi-Food International Ltd. (the "Company" or
"Willi-Food") received a building permit to construct a new
refrigerated and frozen distribution center with an investment of
NIS 90 million (US$ 24.6 million).
The advance new logistics center will be automated and
computerized and will substantially increase the storage space that
is currently available at the old logistics center adjacent to
which it is to be constructed.
This New Logistics Center is designed to effectively and
efficiently support the Company's expansion and growth plans for
the coming years, including the potential entry into new product
categories, of frozen and chilled foods.
YAVNE, Israel,
March 6,
2023 /PRNewswire/ -- G. Willi-Food International Ltd.
(NASDAQ: WILC) (TASE: WILF) (the "Company" or "Willi-Food"), a
global company that specializes in the development, marketing and
international distribution of kosher foods announces the receipt of
a building permit for a new logistics center. The permit was
received after a year and a half of planning and obtaining
approvals from various authorities.
The new logistics center will be built on property owned by the
Company in Yavne, adjacent to the old logistics center currently in
operation and will allow the Company to significantly expand its
storage, collection and distribution space in order support the
Company's continued growth and increased activity in the Israeli
food market, including expansion into new categories and increasing
market share.
The Company currently expects to invest approximately
NIS 90 million (US$ 24.6 million) to be financed from the
Company's own resources.
Joseph Williger, Co-Chairman of
Willi-Food: "Receipt of the building permit for the new logistics
center is a significant milestone for the Company that will enables
the Company's continued growth in the Israeli food market. The new
logistics center that will be established is intended to be a
state-of-the-art and technologically advanced structure that will
significantly increase the Company's logistics capabilities in the
field of storage, collection and distribution. We believe that
through the new logistics center the Company can grow significantly
and strengthen its activities and enter into new categories of
refrigerated and frozen products. The new center will also enable
the provision of logistic services to a variety of other business
entities seeking to be benefit from an advanced logistics center
that is centrally located."
About G. Willi-Food International Ltd.
G. Willi-Food International
Ltd. (http://www.willi-food.com) is an Israeli-based company
specializing in high-quality, great-tasting kosher food products.
Willi-Food is engaged directly and through its subsidiaries in the
design, import, marketing and distribution of over 600 food
products worldwide. As one of Israel's leading food
importers, Willi-Food markets and sells its food products to over
1,500 customers and 3,000 selling points in Israel and
around the world, including large retail and private supermarket
chains, wholesalers and institutional consumers. The Company's
operating divisions include Willi-Food in Israel and Euro
European Dairies, a wholly owned subsidiary that designs, develops
and distributes branded kosher, dairy-food products.
FORWARD LOOKING STATEMENT
This press release contains forward-looking statements within
the meaning of safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 relating to future events or our
future performance, such as statements regarding trends, demand for
our products, growth and expansion into new food categories.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied in those forward-looking
statements. These risks and other factors include but are not
limited to: the risk that the Company will not benefit from the new
logistics center as expected or that the Company's business will
not grow as expected, war in Ukraine, the COVID-19 pandemic,
disruptions to international commercial shipping and disruptions in
commodity pricing monetary risks including changes in marketable
securities or changes in currency exchange rates- especially the
NIS/U.S. Dollar exchange rate, payment default by any of our major
clients, the loss of one of more of our key personnel, changes in
laws and regulations, including those relating to the food
distribution industry, and inability to meet and maintain
regulatory qualifications and approvals for our products,
termination of arrangements with our suppliers, loss of one or more
of our principal clients, increase or decrease in global purchase
prices of food products, increasing levels of competition
in Israel and other markets in which we do business,
changes in economic conditions in Israel, including in
particular economic conditions in the Company's core markets, our
inability to accurately predict consumption of our products and
changes in consumer preferences, our inability to protect our
intellectual property rights, our inability to successfully
integrate our recent acquisitions, insurance coverage not
sufficient enough to cover losses of product liability claims, and
risks associated with product liability claims. We cannot guarantee
future results, levels of activity, performance or achievements.
The matters discussed in this press release also involve risks and
uncertainties summarized under the heading "Risk Factors" in the
Company's Annual Report on Form 20-F for the year
ended December 31, 2021, filed with the Securities and
Exchange Commission on March 15, 2022. These factors are
updated from time to time through the filing of reports and
registration statements with the Securities and Exchange
Commission. We do not assume any obligation to update the
forward-looking information contained in this press
release.
Company Contact:
G. Willi - Food International Ltd.
Yitschak Barabi, Chief Financial
Officer
(+972) 8-932-1000
itsik.b@willi-food.co.il
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SOURCE G. Willi-Food International Ltd.
