Business magnate Pierre Karl Péladeau has successfully acquired a majority stake in Colabor, a significant food distributor in Quebec. The acquisition comes following a court-approved sale process managed by Raymond Chabot (RCGT) under protective measures since January, as part of a restructuring process outlined by the Companies’ Creditors Arrangement Act (CCAA).
Péladeau’s Acquisition Details
Colabor, heavily burdened with over $300 million in debt, is located in Saint-Bruno-de-Montarville. The purchase also includes Colabor’s subsidiaries: Transport Paul-Emile Dubé, Pêcheries Norref Québec, and Groupe Resto-Achats. Specific acquisition amounts for these entities have not been disclosed.
The transaction requires court approval, which is expected on April 13. Once approved, the acquisition will be finalized in the following weeks.
Long-term Vision
Péladeau, also the owner of Quebecor, stated his intention to revitalize Colabor, a company that has been in operation for over 60 years. He emphasized the importance of maintaining jobs in Quebec and preserving the operations of this well-established local business. “It is crucial to safeguard this important link in our supply chain, which contributes to our food sovereignty,” Péladeau remarked.
About Colabor
Founded in 1962, Colabor is publicly traded on the Toronto Stock Exchange. Prior to the suspension of negotiations on its stock, the company was valued at approximately $4 million, a significant drop from around $100 million a year prior.
- Rank: Third-largest food distributor in Quebec
- Market Share: Holds about 16% of the Quebec market for hospitality, restaurant, and institutional services
- Employees: Approximately 725
- Annual Revenue: Over $700 million
- Clients: 8,000
- Suppliers: 600
- Main Warehouses: Located in St-Bruno, Lévis, and Rimouski
As the situation develops, further updates regarding the acquisition and future operations of Colabor will be provided. For any additional information or tips related to this story, please reach out to El-Balad.
