BOUCHERVILLE,
QC, March 4, 2013 /CNW Telbec/
- Colabor Group Inc. (TSX: GCL) ("Colabor" or the
"Company") today announced the closing of its
previously-announced acquisition of substantially all of the assets
of T. Lauzon Ltd ("T. Lauzon") and certain inventory of a
related entity to T. Lauzon for a total consideration of
approximately $13 million (the
"Acquisition").
T. Lauzon is an important distributor of
Cargill beef brands as
Angus Pride, Sterling Silver, producing and processing
high quality protein products throughout the provinces of Québec
and Ontario. As a well-known and
established distributor in Québec, it holds a reputation for
excellent products and experienced, skilled employees providing
effective and flexible service to the restaurant and hotel
industries from a recently renovated 68,000 square feet federally
approved plant located in Montreal. Colabor will continue to operate
from these premises which will be leased.
Concurrently with the closing of the
Acquisition, Colabor has completed the private placement (the
"Private Placement") with the Caisse de dépôt et placement
du Québec of 1,987,000 common shares of Colabor (the
"Shares") at a price of $7.55
per Share for gross proceeds of $15 million. The Company has also completed
the private placement, on a bought deal basis underwritten by
National Bank Financial Inc. (the "Offering"), of 1,987,000
Shares on the same terms as the Private Placement for gross
proceeds of $15 million.
A portion of the net proceeds of the Private
Placement and the Offering was used to finance the Acquisition. The
remainder of the net proceeds will be used to reduce its
indebtedness and for general corporate purposes.
The Offering was completed on a private
placement basis pursuant to "accredited investor" exemptions under
National Instrument 45-106 and certain other available and agreed
upon exemptions. Shares issued under the Private Placement and the
Offering will be subject to a four-month hold period following
closing.
This press release is not an offer to sell or
the solicitation of an offer to buy securities in the United States. The Shares being offered
have not been and will not be registered under the United States Securities Act of 1933 and,
accordingly, will not be offered, sold or delivered, directly or
indirectly, within the United
States, absent an exemption from registration.
Colabor is a wholesaler and distributor of food
and non-food products serving the food-service (cafeterias,
restaurants, hotels, restaurant chains, etc.) and retail (grocery
stores, convenience stores, etc.) markets.
Additional information can be found in the
information documents filed by the Colabor Group Inc. with
securities regulators, at www.sedar.com.
SOURCE COLABOR GROUP INC.