EDMONTON, AB, Nov. 1, 2023 /CNW/ - K-Bro Linen Inc. ("K-Bro" or the "Corporation") (TSX: KBL) today announced that it has successfully completed its acquisition of Buanderie Villeray and its affiliate Buanderie La Relance (together "Villeray") for an enterprise value of $11.5 million and a potential earnout of $1 million. Villeray is a private laundry and linen operator centrally located in Montréal and serving the healthcare and hospitality markets with annual revenues of approximately $10 million. K-Bro will invest a further $5 million in capital expenditures to expand capacity and enhance operational efficiencies, enabling our Montreal business to significantly and profitably grow. As part of the transaction, K-Bro will close its Granby facility and consolidate its volumes into Villeray. K-Bro anticipates that the integration of its existing Granby operations into Villeray will be completed by the end of Q2 2024. The purchase price and capital expenditures will be satisfied by drawing down on K-Bro's revolving credit facility.