MONTREAL, Feb. 14, 2013 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec announced a $15 million equity investment in Colabor Group
Inc., the largest independent food distributor in Québec.
This investment, combined with an additional $15 million equity
investment on a bought deal private placement basis by National Bank
Financial, is part of an expansion strategy by the Québec food
distributor. The growth project includes the acquisition of T. Lauzon
Ltd., a meat, poultry, fish, delicatessen and grocery product
distributor that supplies Quebec's hotel and restaurant industry.
"Colabor's expansion is notable for a series of acquisitions it has made
over the last few years," said Normand Provost, Executive
Vice-President, Private Equity at the Caisse. "By collaborating in the
financing of Colabor, the Caisse is taking part in the growth of a
Québec company that plays a major role in its industry."
Colabor serves over 25,000 clients across different segments of the food
services and retail food sales industry. It distributes over 50,000
products in Québec, Ontario and the Atlantic provinces.
"We are pleased to have our financial partners' support in this
strategic acquisition of T. Lauzon Ltd.," said Claude Gariépy,
President and Chief Executive Officer of Colabor. "The total proceeds
of $30 million will give us additional financial flexibility to execute
an action plan aimed at optimizing operating efficiencies while
reducing our indebtedness under credit facilities."
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As at December 31, 2011, it held $159.0 billion in net
assets. As one of Canada's leading institutional fund managers, the
Caisse invests in major financial markets, private equity and real
estate. For more information: www.lacaisse.com
SOURCE: CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
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