COLABOR INCOME FUND
TSX : CLB.UN

COLABOR INCOME FUND

March 17, 2008 13:11 ET

Colabor Income Fund Completes its Acquisition of Bruce Edmeades Co.

BOUCHERVILLE, QUEBEC--(Marketwire - March 17, 2008) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Colabor Income Fund (TSX:CLB.UN) (the "Fund") is pleased to announce today that it has successfully completed its previously announced acquisition of the assets of Bruce Edmeades Co. ("Bruce Edmeades") (the "Acquisition").

Bruce Edmeades, with annual revenues exceeding C$230 million for the year ended December 28, 2007, is a leading distributor to the foodservice industry. It currently stocks approximately 9,000 products and operates mainly out of a HACCP certified warehouse in Cambridge, Ontario. It distributes to customers primarily in Southern Ontario, but also across Canada servicing several large and well-known customers, including Wendy's, Mr. Sub and Zehrs and other customers operating in the restaurant, healthcare, industrial, education and other industries.

The addition of Bruce Edmeades to Colabor's already strong presence in Ontario through the Summit division represents a natural progression in Colabor's plan to consolidate the Eastern Canadian foodservice distribution market. With the Acquisition, Colabor's annual sales are expected to surpass the $1 billion mark, evidence to Colabor's strengthening position as a market leader in the Canadian food distribution industry.

Immediately following the closing of the Acquisition, Bruce Edmeades will be integrated within Colabor's Summit division. This integration plan is expected to benefit Bruce Edmeades's profitability through a lower overall purchasing cost, the optimization of the combined operations and the leveraging of the Summit divisions' infrastructure.

About Colabor Income Fund

Colabor is a wholesaler and distributor of food and non-food products serving the retail (grocery stores, convenience stores, etc.) and food-service (cafeterias, restaurants, hotels, restaurant chains, etc.) markets. Colabor is one of the largest wholesaler in Canada and the largest in Quebec, with net sales of $838 million for the year ended December 31, 2007.

Forward-looking Statements

This news release may contain forward-looking statements reflecting the opinions or present expectations of Colabor Income Fund or Colabor Limited Partnership concerning their performance as well as their respective business activities and future events. These statements are subject to a number of risks, uncertainties and assumptions. Actual results or events may differ.

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

Contact Information

  • Colabor Income Fund
    Mr. Gilles C. Lachance
    President and Chief Executive Officer
    450-449-0026 ext. 265
    or
    Colabor Income Fund
    Mr. Michel Loignon, CA
    Vice-President Finance & Administration
    450-449-0026 ext. 235