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Press release from CNW Group


Wednesday, March 30, 2011

COLABOR GROUP COMPLETES ACQUISITION OF EDFREX INC.'S ASSETS16:11 EDT Wednesday, March 30, 2011BOUCHERVILLE, QC, March 30 /CNW Telbec/ - Colabor Group Inc. (TSX: GCL) ("Colabor" or the "Company") announced today the closing of the acquisition of the assets of Edfrex Inc. ("Edfrex"), a distributor affiliated with Colabor operating mainly in New Brunswick. The assets acquired also include Edfrex's 2.5% stake in Colabor Investments Inc.Founded in 1945, Edfrex is a company specialized in the distribution of food products and in food servings to food stores, convenience stores, hotels, restaurants and institutions. Edfrex operates a 96,000 square foot distribution center located in Edmundston, New Brunswick and offers 8,000 products to some 2,800 customers with a fleet of around 15 trucks.The acquisition of Edfrex allows Colabor to significantly increase its presence in New Brunswick as well as to realize synergies in terms of supply and operations. The acquisition was financed from credit facilities available to the Company.ABOUT COLABORColabor is a wholesaler and distributor of food and non-food products serving the retail market (grocery stores, convenience stores, etc.) and the foodservice market (cafeterias, restaurants, hotels, restaurant chains, etc.) in Quebec, Ontario and the Atlantic provinces.FORWARD-LOOKING STATEMENTSThis news release may contain forward-looking statements reflecting the opinions or current expectations of Colabor Group Inc. concerning its performance and business operations and future events.  These statements are subject to risks, uncertainties and assumptions. Actual results or events may differ.   For further information: Colabor Group Inc. MaisonBrison Inc.Gilles C. Lachance  President and Chief Executive Officer Tel. 450-449-0026, ext. 265 Fax 450-449-6180 Martin Goulet, CFA Senior Vice-President, Investor Relations Tel. 514-731-0000, ext. 229 Fax 514-731-4525     Michel Loignon CA Vice-President and Chief Financial Officer Tel. 450-449-0026 ext. 235 Fax 450-449-6180