Colabor Group Confirms the Closing of the Acquisition of Assets in the Outaouais and Laurentians Territories

Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Company”) confirms the closing of the acquisition of certain assets from Ben Deshaies inc. (“Ben Deshaies”) as announced on April 11, 2022.

The acquisition includes, in particular, Ben Deshaies’ assets related to foodservice activities in the Outaouais and Laurentians regions, as well as certain related equipment. These activities represent approximately 13 million dollars in annual revenues and will be served from a facility located in Mont-Laurier. Ben Deshaies has been a wholesaler since 1939 and a business partner of Colabor for many years, being a customer of Colabor’s wholesale segment. The acquisition of this new clientele will enable the Company to accelerate its growth in each of these strategic territories.

About Colabor

Colabor is a distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets or "HRI" in Quebec and in the Atlantic provinces, as well as the retail market. Within its two operating segments, Colabor offers specialty food products such as fresh fish and seafood, meat, as well as food and related products through its Broadline activities.

Further information:

Pierre Blanchette Senior Vice President and Chief Financial Officer Colabor Group Inc Tel.: [phone] extension 1308 [e-mail]

Danielle Ste-Marie Ste-Marie Strategy and Communications Inc. Investor Relations 450-449-0026 ext. 1180