Sir Harry Solomon was presented with a Lifetime Achievement Award at the British Israeli Business Awards on Monday night.
He told the 250-strong audience that he was "truly flattered and honoured to have been given the award".
The 78-year-old is best known for founding one of Europe’s largest food businesses in the 1976, Hillsdown Holdings.
Hillsdown – which supplied food to leading supermarkets - had an annual turnover of more than £3 billion and employed more than 50,000 people.
During his tenure as chairman and chief executive, Sir Harry took part in joint ventures with Israeli food companies.
He was knighted in 1991 for his services to the food industry – retiring from the business in 1993.
Sir Harry continues to invest in Israel’s high-tech sector.
Now, he is a member of the senior management of the Portland Trust, a charity he co-founded which is committed to promoting peace and stability between Israelis and the Palestinians through economic co-operation.
Sir Harry, who is married to Judy, is a top philanthropist and active supporter of a range of communal charities. Last year, the Sir Harry Solomon School of Management at the Western Gaililee College in Akko was opened for Israelis of all ethnic backgrounds.
Sir Harry is an honorary fellow of the Royal College of Physicians.
A solicitor, he co-founded the Solomon Taylor & Shaw law firm in Hampstead.
A spokesman for the awards said: “After decades of business activities with Israel and philanthropic funding of education and co-existence initiatives to better Israeli society, Sir Harry Solomon is a truly worthy recipient of the Lifetime Achievement Award 2015”.
THE WINNERS
EasyJet was named British Company of the Year.
The UK’s largest airline, which started flying to Israel in November 2009, carries more than 500,000 passengers in and out of Ben Gurion Airport on 37 weekly departures from Amsterdam, London (Gatwick and Luton), Manchesterm Geneva, Basel, Rome, Milan, Berlin and Paris.
Bookies Ladbrokes, which opened a subsidiary in Israel in 2013; and online retailer Shop Direct were also nominated for the award.
Orbotech, which makes optical inspection systems, was named Israeli Company of the Year. Last year, it acquired UK-based manufacturer SPTS Technologies Group.
Leonardo Hotels and Mapal Green Energy were nominated for the award.
Mobile application start-up Zeek was named Most Promising; and online marketing company XLMedia was awarded Israeli Listed Company of the Year.