BOUCHERVILLE, Quebec, May 13, 2019 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Corporation”) today announces that it has closed the sale of the assets of Viandes Décarie to 9395-8098 Québec inc., a company belonging to Éric Riendeau’s group, for an aggregate amount of $20 million, subject to certain adjustments, effective May 11, 2019 at midnight.
Viandes Décarie is a specialty wholesaler in the meat and meat products market. The execution of an agreement to sell the assets of Viandes Décarie was initially disclosed in a press release issued by the Corporation on May 7, 2019.
This news release contains certain statements that may be deemed to be forward-looking statements reflecting the opinions or current expectations of Colabor Group Inc. concerning its performance, business operations and future events. Such statements are subject to risks, uncertainties and assumptions and the analysis of the debt structure and available alternatives, and risks mentioned in the Corporation’s annual information form found under its profile on SEDAR (www.sedar.com), such as the risk of dilution for existing shareholders. As such, these statements are not guarantees of future performance, and actual results, realities or events may differ materially. Except as required by law, the Corporation assumes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions or other factors change.
Colabor is a distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets or “HRI” in Quebec, Ontario and in the Atlantic provinces, as well as the retail market (grocery stores and convenience stores). Within its two operating segments, Colabor offers specialty food products such as meat, fresh fish and seafood, as well as food and related products through its Broadline activities.
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