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Highlights
- Colabor Group acquires Alimplus Inc.'s food distribution assets and Tout-Prêt Inc. for $51.5 million.
- The acquisition strengthens Colabor's position as a leader in Quebec's food distribution market.
- The transaction includes a strategic distribution agreement with Groupe Mayrand Alimentation.
Colabor Group Inc. (TSX:GCL) is pleased to announce the signature of an agreement to acquire the food distribution assets of Alimplus Inc. ("Alimplus"), operating under the name Mayrand Plus, and all of the issued and outstanding shares of Tout-Prêt Inc. ("Tout-Prêt"), a subsidiary of Alimplus. The agreed purchase price for the Acquisition is $51.5 million, subject to certain adjustments.
This strategic acquisition strengthens Colabor's position in Quebec's food distribution sector. The purchase includes assets related to Alimplus’ food distribution activities and the acquisition of Tout-Prêt, a specialist in the distribution and preparation of cut fruits and vegetables in Quebec. While the four stores of Groupe Mayrand Alimentation Inc. are not part of the transaction, Colabor will enter into a distribution agreement with them for an initial six-year term. This acquisition will add significant value to Colabor’s operations and growth strategy.
Alimplus, a well-established Quebec-based company with over 40 years of experience, is a leading private food distributor known for its efficient service to customers in the restaurant, institutional, and hotel industries. The company operates three warehouses located in Drummondville, Anjou, and Quebec City. For the twelve-month period ending December 2024, the food distribution activities, in addition to the distribution agreement with Groupe Mayrand Alimentation, would represent approximately $225 million in annual sales.
Louis Frenette, President and CEO of Colabor, expressed his enthusiasm for the acquisition, stating, "The Acquisition of Alimplus' distribution activities significantly accelerates our growth plan and positions us as a Quebec leader in food distribution. Highly strategic, this Acquisition allows us to acquire a customer base in coveted territories, create synergies, and offer cross-selling opportunities, particularly with our private brand and Tout-Prêt's products. The Colabor family is growing, and together we have everything in hand to become the essential reference for all food artisans in Quebec."
Pierre Lapointe, President and CEO of Alimplus, also commented on the deal: "We are very excited to join Colabor. We believe that Colabor is the ideal partner, sharing a common culture and values, to continue our growth. We will work together to make this agreement a success for our customers and employees."
The Acquisition is subject to customary closing conditions, including all required regulatory approvals. The closing of the Acquisition is expected to occur during the second quarter of 2025, marking an important step in Colabor’s growth and consolidation within the Quebec food distribution market.
