Groupe Colabor Completes Acquisition of Alimplus Assets

Groupe Colabor Inc., a major food product distributor in Quebec and Atlantic provinces, has successfully acquired certain assets from Alimplus, including its food distribution operations and a subsidiary, Tout-Prêt. Initially announced on February 19, the acquisition was completed for a total revised consideration of $49.75 million. Alimplus, operating as Mayrand Plus, has been a prominent player in food distribution for over four decades. This acquisition includes distribution operations and all issued and outstanding shares of Tout-Prêt. However, the four retail stores of Groupe Mayrand Alimentation are excluded. Colabor also entered a six-year distribution agreement with these stores. The acquired businesses, along with the newly signed distribution agreement, are expected to represent approximately $225 million in annual sales. Additionally, Colabor has secured financing to support the purchase, including a revised first-ranking credit facility totaling $91.75 million, a modified subordinated debt with Investissement Québec, and a new five-year very subordinated debt facility. Colabor specializes in a range of products servicing the HRI (hospitality, restaurant, and institutions) sector and retail through broadline distribution activities.