MONTREAL, May 19, 2015 /CNW Telbec/ - The retailer Renaud-Bray entered into an agreement today to purchase assets of Archambault Group, a subsidiary of Quebecor. The agreement covers the acquisition of 14 retail stores in Québec, the archambault.ca portal and the English-language bookstore Paragraphe in Montreal. This acquisition is subject to the authorization of the Competition Bureau. Quebecor will continue to manage all Archambault Group's operations until the Competition Bureau has rendered its decision. Once this transaction has been completed, Renaud-Bray intends to maintain Archambault's banner as a separate entity.
"Founded nearly 120 years ago, Archambault first became a leader in the field of music and cinema, and then extended its entertainment product offer to books. Archambault is a prestigious banner today and is ranked among the most admired companies by Quebecers. Renaud-Bray is a leading player in promoting and broadening culture; it is the largest French-language bookstore retailer in North America. The two companies share numerous values in common and both are customer-focused," said Blaise Renaud, President of Renaud-Bray.
"Through this acquisition, we are proud not only to maintain the company's sustainability and its control by Quebec interests, but also to ensure greater vitality for our sector, and by the same token, for the book chain industry as a whole," added Blaise Renaud. "Given the current difficult economic conditions that have severely affected a number of Quebec retailers, Renaud-Bray and Archambault are also required to adapt and renew themselves in order to face the future," he concluded.
Founded in 1965, Renaud-Bray operates 30 bookstores under the Renaud-Bray banner, a virtual boutique at renaud-bray.com and a warehouse that facilitates the efficient management of the thousands of online orders that are received every day. For more than 50 years, Renaud-Bray has been helping to broaden and diversify the offer of French-language cultural products.
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For further information: Denise Courteau, Media Relations, Tel.: 514-737-7441, Cell: 514-973-7441, email@example.com