Press release from CNW Group
Colabor Group completes acquisition of Viandes Décarie Inc.
Friday, January 06, 2012
Colabor Group completes acquisition of Viandes Décarie Inc.13:08 EST Friday, January 06, 2012BOUCHERVILLE, QC, Jan. 6, 2012 /CNW Telbec/ - Colabor Group Inc. (TSX: GCL) ("Colabor" or the "Company") today announced the closing of the acquisition of the assets of Viandes Décarie Inc., a leading wholesaler and distributor of meat and meat products.Viandes Décarie, established in 1994, had sales of close to $70 million in the 12 months ended April 30, 2011. Operating from its 27,000-square-foot warehouse at Anjou, Quebec, Viandes Décarie is a wholesaler and distributor of a wide range of fresh and frozen meat including beef, veal, lamb, pork and poultry. It has a diversified customer base of foodservice distributors, food retailers and specialty butchers, located mainly in Quebec. Viandes Décarie's facilities employ Hazard Analysis and Critical Control Points (HACCP) systems to maintain the highest standards of safety and health in food processing. The company also holds a federal permit giving it the opportunity to sell its products across Canada.This transaction, Colabor's second in less than 12 months in the "centre of the plate" meal solutions category, enables the Company to broaden its product offering and expand its customer base. The acquisition was financed from the Company's available credit facilities.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 firstname.lastname@example.org Michel Loignon, CA Vice-President and Chief Financial Officer Tel. 450-449-0026 ext. 235 Fax 450-449-6180 email@example.com Martin Goulet, CFA Senior Vice-President, Investor Relations Tel. 514-731-0000 ext. 229 Fax 514-731-4525 firstname.lastname@example.org