COLABOR COMPLETES COMPULSORY ACQUISITION OF SKOR

BOUCHERVILLE, QC AND VAUGHAN, ON, June 27, 2011 /CNW Telbec/ - Colabor Group Inc. (TSX: GCL) ("Colabor") and The SKOR Food Group Inc. (TSXV: SKF) ("SKOR") announced today that 2278988 Ontario Inc., a wholly-owned subsidiary of Colabor (the "Offeror"), has completed, on June 25, 2011, its compulsory acquisition (the "Compulsory Acquisition") of 688,589 common shares of SKOR (the "SKOR Shares") for $1.33 per share pursuant to the notice of compulsory acquisition made under Section 188 of the Business Corporations Act (Ontario), and mailed to the holder of SKOR Shares who did not accept its March 30, 2011 offer, by way of a take-over bid, to acquire all of the issued and outstanding SKOR Shares (the "Offer"). On May 9, 2011, the Offeror acquired 26,040,906 SKOR Shares, representing approximately 97.4% of the SKOR Shares. The Offeror owns 100% of the issued and oustanding SKOR Shares.

In addition, Colabor and SKOR announced today that the SKOR Shares have ceased to be listed for trading on the TSX Venture Exchange. Colabor and SKOR also announced that that SKOR has filed with the applicable securities regulatory authorities in Canada the necessary documentation in order to cease to be a reporting issuer in all jurisdictions in which it is currently.

ABOUT COLABOR

Colabor is a wholesaler and distributor of food and non-food products serving the retail market (grocery stores, convenience stores, etc.) and the foodservice market (cafeterias, restaurants, hotels, restaurant chains, etc.) in Quebec, Ontario and the Atlantic provinces.

ABOUT SKOR

Headquartered in Vaughan, Ontario, SKOR is a vertically integrated full service wholesale food supplier to the food service and retail industries. Through its three operating divisions, SKOR Foodservice, SKOR Wholesale Marketplace, and SKOR Culinary Concepts, SKOR services a wide range of multi location food service establishments, quick service restaurant chains, day care facilities, government institutions, independent food service operators, independent grocery stores as well as vending operators and convenience stores in Ontario and Quebec. For the twelve month period ending February 28, 2011, SKOR recorded $138.1 million in sales and $4.7 million in EBITDA. It employs approximately 200 people in its 200,000 square feet warehouse located in Vaughan, its six "cash & carry" locations and its four other facilities principally located in Southern Ontario.

FORWARD-LOOKING STATEMENTS

This release may contain forward-looking statements reflecting Colabor's opinions or current expectations concerning Colabor's and SKOR's business operations and future events. These statements are subject to risks, uncertainties and assumptions. Actual results or events may differ.

Further information can be found in the disclosure documents to be filed by Colabor with the securities regulatory authorities, available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE COLABOR GROUP INC.

For further information:

Colabor Group Inc. 

Gilles C. Lachance     
President and Chief Executive Officer
Tel. 450-449-0026 ext. 265
Fax 450-449-6180
glachance@colabor.com

Michel Loignon, CA
Vice-President and Chief Financial Officer
Tel. 450-449-0026 ext. 235
Fax 450-449-6180
mloignon@colabor.com

The Skor Food Group Inc.

Steve Corvese
Vice President
Tel. 905-660-1212 ext. 323
stevec@skorfoodgroup.com

Profil de l'entreprise

COLABOR GROUP INC.

Renseignements sur cet organisme

THE SKOR FOOD GROUP INC.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.