Colabor Group acquires Quebec meat company Viandes Decarie

MONTREAL – Colabor Group Inc. (TSX:GCL) has signed a deal to buy Viandes Decarie Inc., a Quebec wholesaler and distributor of meat and meat products.

Financial terms of the deal announced Thursday were not disclosed.

The agreement closes in early January.

Viandes Decarie is a seven year old company which had sales of close to $70 million in the 2011 fiscal year. It operates from a warehouse at Anjou, Que. selling beef, veal, lamb, pork and poultry to food stores, restaurants and other customers.

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“The acquisition of Viandes Decarie is in keeping with Colabor’s strategic objectives of broadening its product range and its customer base,” said Gilles Lachance, Colabor’s president and CEO.

“This transaction will further enhance our offering in a growth niche and will allow us to increase our sales to existing customers while penetrating the specialty butcher market. We anticipate that this acquisition will bring operating synergies and improve earnings per share in 2012.”

Colabor is a wholesaler and distributor of food and non-food products in Quebec, Ontario and the Atlantic provinces.