Colabor Announces the Acquisition of Le Groupe Resto-Achats
April 04 2022 - 4:03PM
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 BlanchetteSenior Vice President and Chief
Financial Officer Colabor Group Inc.Tel.: 450-449-4911 extension
1308investors@colabor.com |
Danielle Ste-MarieSte-Marie Strategy and
Communications Inc.Investor Relations450-449-0026 ext. 1180 |
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