Colabor Group Confirms the Closing of the Acquisition of Assets Related to the Foodservice Sector

SAINT-BRUNO-DE-MONTARVILLE, Quebec, March 15, 2024 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Company”) confirms the closing of the acquisition of certain assets from Beaudry & Cadrin Inc. (“Groupe Beaudry”), as announced on February 29.

The acquisition includes assets related to foodservice activities (restaurants, hotels, institutions and others for on-site consumption by customers) in Quebec of Groupe Beaudry, and the related inventories. These activities represent approximately 15 million dollars in annual revenues and will be served mainly from our facility located in Saint-Nicolas. Groupe Beaudry has been a distributor since 1899 and a business partner of Colabor for many years, being a customer of Colabor’s wholesale segment. The acquisition of this new clientele will allow the Company to consolidate its presence in Eastern Quebec.

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.

Further information:

Pierre Blanchette Senior Vice President and Chief Financial Officer Colabor Group Inc. Tel.: [phone] extension 1308 [e-mail]

Danielle Ste-Marie Ste-Marie Strategy and Communications Inc. Investor Relations 450-449-0026 ext. 1180