Alexander Granovsky controls cash rich Emblaze Ltd., a technology company listed on the London Stock Exchange, which announced on March 2 it has signed an agreement to acquire a controlling 45% stake in Willi-Food Investments Ltd. (WFI), a company listed on the Tel Aviv Stock Exchange. The agreement was signed with founders Zwi Williger and Joseph Williger to acquire their entire interest in WFI.
Willi-Food Investments Ltd. engages in the import and supply of a range of Kosher food products in Israel.
The aggregate consideration for purchase of the shares is around US$76 million (NIS268 million).
WFI in turn, owns 58 percent of G Willi-Food International Ltd., a company listed on NASDAQ. Willi-food International is the principal operating entity within the WFI group of companies.
The agreement also governs the ongoing relationship of the company with the sellers both before and after completion of the transaction. Zwi and Joseph Williger will continue to be engaged by WFINT and will serve as Chairman of the Board and as President, respectively, or as joint chief executive officers of Willi-Food for an additional period.
The Transaction is subject to the receipt of Israeli anti-trust authorities
Willi-Food was a member of the investment group that Granovsky and Nochi Dankner organized to invest in IDB, and which broke up after the court decided to transfer the company to Eduardo Elsztain and Moti Ben-Moshe.