G. Willi-Food International expects revenue growth to rise approximately 17% year-over-year in fiscal 2013; company also repays convertible loan of approximately US$18.3M granted in connection with proposed reorganization plan for IDB Holding
January 13, 2014
– G. Willi-Food Also Announces Repayment of Convertible Loan of NIS 65 million (approximately USD 18.3 million) Granted in Connection with Proposed Reorganization Plan for IDB Holding Corporation
G. Willi-Food International Ltd. (NASDAQ: WILC) (the "Company" or "Willi-Food"), a global company that specializes in the development, marketing and international distribution of kosher foods, today announced that it expects revenue growth of approximately 17% for fiscal 2013 compared to revenue in fiscal 2012, based on a preliminary assesment of the financial results.
"In the 2013 fiscal year we were able to continue to attract new customers as well as maintain our strong customer base by providing quality products that have come to represent our brand," commented Zwi Williger, Chairman of Willi-Food. "We intend to continue the positive gains we have made and continue developing our product line in the current fiscal year."
The Company also announced the full repayment by C.D-B.A Holdings (Designated) (2013) Ltd. ("C.D-B.A") of the convertible loan of NIS 65 million (approximately USD 18.3 million) granted on November 28, 2013 in connection with the proposed reorganization plan for IDB Holding Corporation. The Company has also submitted a request from C.D-B.A to receive the NIS 410 thouands (approximately USD 120 thousands) in accumulated interest owed to the Company under the terms of the convertible loan agreement.
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 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 Gold Frost, a wholly owned subsidiary who designs, develops and distributes branded kosher, dairy-food products.