The Becker Milk Company Limited
TSX : BEK.B

July 14, 2015 17:05 ET

The Becker Milk Company Limited Sale Process Update

TORONTO, ONTARIO--(Marketwired - July 14, 2015) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

The Becker Milk Company Limited (the "Company" or "Beckers") (TSX:BEK.B) today provided an update on the Company's sale process being undertaken by the Board of Beckers, previously announced in press releases dated August 6, 2013 and December 17, 2013.

PricewaterhouseCoopers Real Estate Inc. has completed the initial steps in the sale process and has engaged in further communications with a short list of potential acquirers. Following such discussions, the Company has engaged in advanced discussions with a single potential acquirer who is conducting due diligence on the Company.

Any transaction would be subject to approval by the Company's Board of Directors and the negotiation of definitive agreements. There can be no assurance that the discussions with any potential purchaser will result in a completed transaction.

The Company currently owns and manages 66 retail commercial properties throughout southern Ontario with the majority of locations leased to Mac's. Mac's is owned and operated by Alimentation Couche-Tard Inc.

For the Board of Directors

G.W.J. Pottow, President

This news release may contain forward-looking statements with respect to the Company including, but not limited to, statements with respect to the sale process, current discussions with third parties and whether such discussions ultimately lead to a transaction. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to general economic conditions, risks related to unsatisfactory third party due diligence on the Company and its properties, conclusions of economic evaluations, as well as those factors discussed in the Company's annual information form, which is available at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company does not undertake to update any forward-looking statements that are set out in this news release, except in accordance with applicable securities laws.

Contact Information

  • G.W.J. Pottow
    President
    416-698-2591