Israeli-based G. Willi-Food International specializes in high quality, great tasting kosher food products. The company is engaged directly and through its subsidiaries in the design, import, manufacture, marketing and distribution of over 1,000 food products worldwide. It has over 1,500 customers around the globe including retail and supermarket chains.
G. Willi-Food announced today that its board of directors has authorized a share repurchase program permitting the company to repurchase up to $5 million of the company’s ordinary shares over the next year. At the company’s discretion, it may repurchase ordinary shares either in open market transactions or in privately negotiated transactions.
One reason pointed to for this decision was G. Willi-Food’s strong cash position. Another reason, according to its chairman Zwi Williger, is that “we believe our share is undervalued”. The company said the share repurchase plan will benefit shareholders without impacting its ability to execute its growth plans.
In a separate announcement the company’s principal shareholder, Willi-Food Investments Limited said that its board of directors had authorized investments to purchase up to $5 million of Willi Foods ordinary shares over the next twelve months. Investment timing decisions, the company said, will be based on market conditions.
For more information on G. Willi-Foods Ltd., please visit the company’s website at www.willi-food.co.il.
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