G. Willi-Food International Ltd. , a global company that specializes in the development, marketing and international distribution of kosher foods, announced today that the Company’s wholly owned subsidiary, Gold Frost Ltd. , entered into an extension of its Exclusive Distribution Agreement with the Danish producer of dairy products, Arla Foods amba , for a term of one year commencing from December 29, 2016 until December 31, 2017.
Under the extension, Arla granted Goldfrost an exclusive non-transferable right to import, export, market and distribute in Israel cheese and butter products manufactured by Arla. Goldfrost’s exclusivity is subject to its purchase of certain minimum quotas of Arla products. In addition, Arla has the right to terminate the Agreement under certain circumstances, including in the case of the death or permanent incapacity of Mr. Iram Graiver or his ceasing to be involved in Goldfrost’s business.
Mr. Iram Graiver, CEO of the Company, added “We are pleased that Arla, one of the biggest producer of dairy products in the world, has demonstrated its confidence in us. After the Company built an experienced new managerial team, Arla has agreed to provide us with an additional year of exclusivity in distributing their cheese and butter products in Israel.”