COLABOR GROUP ANNOUNCES ACQUISITION OF THE ASSETS OF RTD DISTRIBUTIONS LTÉE
01 Setembro 2010 - 10:08AM
PR Newswire (Canada)
BOUCHERVILLE, QC, Sept. 1 /CNW/ -- Transaction consolidates
Colabor's presence in eastern Quebec BOUCHERVILLE, QC, Sept. 1 /CNW
Telbec/ - Colabor Group Inc. (TSX: GCL) ("Colabor" or the
"Company") today announced the signature of an agreement to acquire
the assets of RTD Distributions Ltée ("RTD"), one of Colabor's
largest affiliated distributors in eastern Quebec. The assets
acquired include 100% ownership of Transport Paul-Émile Dubé Ltée.
Colabor will also acquire all of the shares held by RTD's parent
company in the equity of Colabor Investments Inc., representing
3.85% of the equity of Colabor Investments Inc. RTD, founded in
1949, specializes in the distribution of food and non-food products
serving grocery stores, convenience stores, hotels, restaurants and
institutional customers in the Lower St. Lawrence and Gaspé
regions, in parts of the North Shore and Lower North Shore regions
and in northeastern New Brunswick. RTD operates a
120,000-square-foot distribution centre at Rimouski and its fleet
of more than 50 trucks supplies more than 10,000 products to
approximately 2,500 customers at locations throughout its
territory. RTD sales were approximately $112 million in its fiscal
year ended January 31, 2010 and the acquisition of this affiliated
distributor will bring its operating margins within Colabor. The
transaction will be financed from credit facilities available to
the Company. "The acquisition of RTD will further strengthen our
presence in eastern Quebec and will bring appreciable synergies in
procurement, operations and transport," said Gilles C. Lachance,
Colabor President and Chief Executive Officer. "RTD has a solid
reputation and has been providing highly professional services and
fast, reliable supply for more than sixty years. As a result of its
affiliation with Colabor since 1988, the two organizations share a
common vision, which will ensure an harmonious integration of RTD's
operations. This acquisition is in keeping with Colabor's strategic
objective of consolidating the Canadian market for distribution of
food products and services. The acquisition is subject to usual
conditions, including all required regulatory approvals, and the
transaction is expected to close on or about September 13, 2010.
ABOUT COLABOR Colabor 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 STATEMENTS This release
may contain forward-looking statements reflecting Colabor's
opinions or current expectations concerning Colabor's and RTD's
business operations and future events. These statements are subject
to risks, uncertainties and assumptions. Actual results or events
may differ. Colabor Group Inc.: Gilles C. Lachance, President and
Chief Executive Officer, Tel. 450-449-0026 ext. 265, Fax
450-449-6180, glachance@colabor.com; Michel Loignon, CA,
Vice-President and Chief Financial Officer, Tel. 450-449-0026 ext.
235, Fax 450-449-6180, mloignon@colabor.com; MaisonBrison Inc.:
Martin Goulet, CFA, Senior Vice-President, Investor Relations, Tel.
514-731-0000 ext. 229, Fax 514-731-4525, martin@maisonbrison.com
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