Colabor Announces the Acquisition of Le Groupe Resto-Achats
BOUCHERVILLE, Quebec, April 04, 2022 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Company”) is pleased to announce the acquisition of Le Groupe Resto-Achats inc. and its subsidiaries (“GRA”) as of April 4, 2022.
Founded in 2008 and headquartered in Québec City, GRA is a major purchasing group of independent restaurants and seniors' residences located mainly in eastern Quebec. With more than 200 active members and nearly $4 million in supplier revenues for the year ended December 31, 2021, GRA provides access to group business terms for food supply and other services related to restaurants.
“We are extremely pleased to welcome the GRA team in the Colabor family,” said Louis Frenette, President and CEO of Colabor. “GRA is led by an experienced team with Mr. Johnie Grenon as President, and he will continue to lead it. The acquisition of GRA fits perfectly into our growth plan for the coming years. The independent restaurants sector is an important growth driver for us.”
“We are very excited to join Colabor”, said Johnie Grenon, President of GRA. “We know that Colabor is the ideal partner for us because we share the same culture and values and have a strong business fit. The GRA team is proud to work with Colabor to accelerate the growth and success of our business and employees.”
About Colabor
Colabor is a distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets or "HRI" in Quebec and in the Atlantic provinces, as well as the retail market. Within its two operating segments, Colabor offers specialty food products such as fresh fish and seafood, meat, as well as food and related products through its Broadline activities.
About Le Groupe Resto-Achats
Le Groupe Resto-Achats inc. is a purchasing group in the food industry. Le Groupe Resto-Achats inc. is aimed at independent family-friendly restaurants, pubs, breweries, caterers and seniors’ residences in the greater Québec city area. GRA is a purchasing group allowing negotiation of supply prices and other services related to restaurants.
Further information:
| Pierre Blanchette Senior Vice President and Chief Financial Officer Colabor Group Inc. Tel.: 450-449-4911 extension 1308 | Danielle Ste-Marie Ste-Marie Strategy and Communications Inc. Investor Relations 450-449-0026 ext. 1180 |
