SAINT-BRUNO-DE-MONTARVILLE, Quebec, April 27, 2026 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) ("Colabor" or the "Company") announced today the completion of the previously announced transaction (the "Transaction with Financière Outremont") with Colabor 2026 L.P., acting through its general partner 9563-0570 Québec Inc., a member of the group of Financière Outremont inc., pursuant to which Colabor 2026 L.P. has acquired substantially all of the assets of the Company and of its subsidiaries Norref Fisheries Quebec Inc. and Transport Paul-Émile Dubé Ltée. The closing of the Transaction with Financière Outremont marks the completion of the four transactions (collectively, the "Transactions") contemplated by the previously announced definitive agreements (the "Definitive Agreements") entered into in connection with the sale and investment solicitation process (the "SISP") conducted under the supervision of the Superior Court of Québec (Commercial Division) (the "Court") and Raymond Chabot Inc., in its capacity as Court-appointed monitor of the Company ("Monitor") in connection with the restructuring proceedings (the "CCAA Proceedings") of the Company and certain of its subsidiaries, Transport Paul-Émile Dubé Ltée, Le Groupe Resto-Achats Inc. and Norref Fisheries Quebec Inc., instituted on January 8, 2026, under the Companies' Creditors Arrangement Act (Canada).
The completion of the Transaction with Financière Outremont follows the previously completed closings of the three other Transactions contemplated by the Definitive Agreements, namely: (i) the sale of all outstanding shares of Tout-Prêt Inc. ("Tout-Prêt") to a corporation newly incorporated for the sole purpose of purchasing such shares on behalf of a group of existing employees of Tout-Prêt; (ii) the sale of the totality of the assets held by Le Groupe Resto-Achats Inc. to 9562-9507 Québec Inc., a newly incorporated corporation acting on behalf of a consortium comprised of Québec-based investors; and (iii) the sale of certain of the Company's remaining assets pursuant to a separate asset purchase agreement.
"The completion of the Transactions marks an important milestone for Colabor. Through constructive engagement with all stakeholders, we successfully carried out a complex restructuring process and achieved an outcome that preserves the continuity of Colabor's operations in Québec," said Kelly Shipway, President and Chief Executive Officer of Colabor. "We remain grateful for the dedication of our employees and the support of our customers, partners and suppliers throughout this process. Colabor has a solid foundation and can now fully refocus on what it does best: providing high-quality food distribution services across Québec and the Atlantic provinces."
"We are very pleased to be taking the reins of Groupe Colabor to ensure the continuity of a local company that has been serving Quebecers for 64 years. Revitalizing this key player in food distribution is, in my view, a necessary commitment to the vitality of our agri-food ecosystem.
Today, the market is largely dominated by two major players, and supply chain challenges are becoming increasingly prominent. In this context, we firmly believe it is essential to develop strong and sustainable capacity here in Québec in this strategic sector. Our ambitions go beyond a simple turnaround: they are to preserve as many jobs as possible, restore sound financial management, rebuild trust with all our business partners, customers and suppliers, and stimulate competition for the benefit of consumers here in Québec. It is also an opportunity to strengthen our food autonomy and to actively contribute to the economic growth of Québec and its regions.
Thanks to the proven expertise and know-how of Colabor's teams, whether at head office and in our distribution centres across Québec, we will be able to build an even stronger, forward-looking company. I would also like to thank them for their commitment throughout the process that led to this transaction. Together with the management team, we are determined to work collaboratively to ensure the success of Colabor's relaunch. Our immediate priority is to meet with our business partners to strengthen ties with our suppliers and customers, thereby ensuring an effective response to the complex challenges of supply," said Pierre Karl Péladeau, President of Financière Outremont Inc.
Affected creditors entitled to distributions of proceeds of the Transactions will receive their respective distributions from the Monitor. Shareholders of the Company will not receive any distribution from the proceeds of the Transactions.
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. Through these two activities, Colabor offers a range of specialty food products, including meat, fish and seafood, as well as food and related products through its broadline distribution activities.
Further information:
Marc-Antoine Daoust
Chief Financial Officer
Colabor Group Inc.
Tel.: 450-449-4911 extension 1785
investors@colabor.com
About Financière Outremont Inc.
Financière Outremont Inc. is an investment company controlled by Pierre Karl Péladeau.
Further information:
Annick Bélanger
Financière Outremont Inc.
Tel.: 514 755-2050
belanger.annick@icloud.com
Forward-Looking Statements
This press release contains certain forward-looking statements as defined under applicable securities law, including statements regarding the CCAA Proceedings and sale and investment solicitation process and statements about the Company's belief and expectations and other statements that are not statements of historical fact. Forward-looking information, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "ensure" or other similar expressions concerning matters that are not historical facts. Refer in particular to section 2.2 "Development Strategies and Outlook" of the Company's MD&A. While Management considers these assumptions to be reasonable based on information currently available to the Company, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Colabor currently expects. For more exhaustive information on these risks and uncertainties, the reader should refer to section 7 "Risks and Uncertainties" of the Company's MD&A. These factors are not intended to represent a complete list of the factors that could affect Colabor and future events and results, may vary significantly from what Management currently foresees. The reader should not place undue importance on forward-looking information contained in this press release, information representing Colabor's expectations as of the date of this press release (or as of the date they are otherwise stated to be made), which are subject to change after such date. While Management may elect to do so, the Company is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law.
