Business
K-BRO ACQUIRES MONTRÉAL HEALTHCARE LAUNDRY BUSINESS
K-BRO ACQUIRES MONTRÉAL HEALTHCARE LAUNDRY BUSINESS Canada NewsWire ED...
About this update from K-bro Linen Inc.
[{"type":"text","content":"\n\n \n \n \n K-BRO ACQUIRES MONTRÉAL HEALTHCARE LAUNDRY BUSINESS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n EDMONTON, AB\n \n \n ,\n \n \n June 21, 2024\n \n \n /CNW/ - K-Bro Linen Inc. (\"\n \n K-Bro\n \n \" or the \"\n \n Corporation\n \n \") (TSX: KBL) today announced that it has successfully completed its acquisition of Buanderie C.M. Inc. (\"C.M.\") for an enterprise value of\n \n $12 million\n \n , on a cash-free, debt-free basis. The transaction includes the real estate for C.M.'s processing and storage facilities located in North Montréal. The acquisition is being funded entirely from K-Bro's syndicated revolving credit facility and, after synergies, is expected to be accretive to the Corporation.\n \n \n C.M. is a private laundry and linen operator located in Montréal and serving the healthcare market with annual revenues of approximately\n \n $7.3 million\n \n . The acquisition will enable K-Bro to operate with two facilities in\n \n Montreal\n \n to service its growing healthcare and hospitality business.\n \n \n \"K-Bro is proud to serve\n \n Quebec\n \n and we are excited to further diversify our customer base in the province. C.M. has been serving top-tier healthcare customers in the attractive Montréal market for decades. Our acquisition of C.M. expands K-Bro's healthcare customer base, increases healthcare volumes, adds additional healthcare capacity, and supports significant future growth opportunities,\" said\n \n Linda McCurdy\n \n , President and Chief Executive Officer at K-Bro.\n \n \n \"The C.M. acquisition aligns with our strategy of acquiring high-quality operators. We're excited about our outlook and have an active M&A pipeline. K-Bro remains well positioned from a balance sheet and liquidity perspective and will continue to be disciplined as we evaluate acquisitions.\"\n \n \n \n CORPORATE PROFILE\n \n \n \n K-Bro is the largest owner and operator of laundry and linen processing facilities in\n \n Canada\n \n . K-Bro provides a comprehensive range ...