Colabor Group announces acquisition of Viandes Décarie Inc.
21 Dezembro 2011 - 5:13AM
PR Newswire (Canada)
Transaction will broaden "centre of the plate" product offering
BOUCHERVILLE, QC, Dec. 22, 2011 /CNW Telbec/ - Colabor Group Inc.
("Colabor" or the "Company") today announced the signature of an
agreement to purchase the assets of Viandes Décarie Inc., a leading
wholesaler and distributor of meat and meat products. This
transaction, Colabor's second in less than 12 months in the "centre
of the plate" meal solutions category, will enable the Company to
broaden its product offering and expand its customer base. 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. "The
acquisition of Viandes Décarie is in keeping with Colabor's
strategic objectives of broadening its product range and its
customer base," said Gilles C. Lachance, Colabor President and
Chief Executive Officer. "This transaction will further enhance our
offering in a growth niche and will allow us to increase our sales
to existing customers while penetrating the specialty butcher
market. Viandes Décarie enjoys a solid reputation for the quality
of its products and services as well as for the efficiency of its
operations. We will also benefit from the experience of its senior
officers, who will join our team. We anticipate that this
acquisition will bring operating synergies and improve earnings per
share in 2012." The acquisition is subject to usual conditions,
including all required regulatory approvals, and will be financed
from the Company's available credit facilities. The transaction is
expected to close in early January 2012. 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 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. COLABOR GROUP INC. CONTACT: Colabor Group Inc.
MaisonBrison Inc.Gilles C. Lachance Michel Loignon, CA Martin
Goulet, CFAPresident and Chief Vice-President and Senior
Vice-President,Executive Chief Financial Investor RelationsOfficer
Officer Tel. 514-731-0000 ext.Tel. 450-449-0026 Tel. 450-449-0026
229ext. 265 ext. 235 Fax 514-731-4525Fax 450-449-6180 Fax
450-449-6180 martin@maisonbrison.comglachance@colabor.com
mloignon@colabor.com
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