03:33 PM EDT, 06/03/2025 (MT Newswires) -- Colabor Group ( COLFF ) was at last look up 2.5% late Tuesday afternoon as ait closed the acquisition of certain assets from Alimplus, a Quebec-based private food distributor.

The acquisition involves the food distribution assets of Alimplus, operating under the name Mayrand Plus, and all of the issued and outstanding shares of Tout-Pret, a subsidiary of Alimplus, for a revised total consideration of $49.75 million (compared to $51.5 million, as announced on February 19), subject to certain adjustments.

A statement noted the four stores of Groupe Mayrand Alimentation inc. are not part of the acquisition, but Colabor ( COLFF ) has also entered into a distribution agreement with them for an initial six-year term. Alimplus is a Quebec-based company and a major private food distributor for over 40 years. Colabor ( COLFF ) said these activities, for the 12-month period ended December 2024, in addition to the above mentioned distribution agreement for its stores, would represent approximately $225 million in annual sales.

Colabor ( COLFF ) has entered into agreements in connection with the financing of the Acquisition price: including completing the process of amendment and restatement of its senior first-ranking secured credit facility.

Also, Investissement Quebec (IQ) extended the term of Colabor's ( COLFF ) existing $15 million subordinated debt to now mature in December 2029; and Colabor ( COLFF ) has also entered into a new financing agreement with IQ for $15 million in highly subordinated debt with a 5-year term.

Price: 0.83, Change: +0.02, Percent Change: +2.47