Colabor Group completes C$20M sale of Viandes Décarie
May 10, 2019
20.00 Million CAD
On May 10, 2019, Colabor Group Inc. announced that it has completed its previously announced sale of Viandes Décarie to 9395-8098 Québec Inc., a company belonging to the Riendeau group, for C$20 million. Colabor applied C$17.75 million of the proceeds to existing credit facilities and will receive the remaining balance over the next five years as part of a purchasing agreement to help grow its Broadline Distribution sector.
Colabor distributes and wholesales food products to hotels, restaurants, institutional markets and retail markets in Ontario, Quebec and Atlantic Canada. Based in Boucherville, it offers specialty food products such as meat, fresh fish and seafood, as well as food and related products through its Broadline activities.
Viandes Décarie is a Quebec-based specialty wholesaler in the meat and meat products market.
McCarthy Tétrault LLP advised Colabor with a team led by Philippe Leclerc that included Jean-Paul Timothée and Isabelle Nazon.