Colabor Group Announces the Appointment of Mr. Louis Frenette as President and Chief Executive Officer

BOUCHERVILLE, Quebec, Nov. 18, 2019 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Corporation”) today announces the appointment of Mr. Louis Frenette as President and Chief Executive Officer of the Corporation. This appointment is effective as of November 25, 2019.

"We are pleased to announce today the appointment of Louis Frenette as President and Chief Executive Officer of Colabor Group. Louis is an inspiring and committed leader with an impressive track record in the food and consumer products industry for both large retailers and foodservice customers. Having successfully led several major Canadian companies in our sector, we are confident that he will quickly be able to apply his operational and strategic expertise to the continued transformation of Colabor's business," said Warren White, Chairman of the Board of Directors. "We would also like to thank Pierre Gagné who has served as Interim Chief Executive Officer since September 19, 2019 in addition to his responsibilities as Senior Vice-President and Chief Financial Officer.”

Mr. Frenette was President and Chief Executive Officer of Parmalat Canada, Bonduelle North America and Danone Canada. Previously, he held the positions of Vice-President of Sales and Logistics at Danone Canada, Executive Director and Vice-President of Marketing at Johnson & Johnson Canada, as well as Director of Sales at Procter and Gamble Canada where he started his career in 1987. During this period, he implemented operational productivity and management programs. He achieved important market share gains and created profitable growth while improving customer satisfaction, service rates and employee engagement. He is also actively involved in various boards and financing activities, including for the Breakfast Club of Canada and the McGill Center for the Convergence of Health and Economics.

"I am pleased to join Colabor's team. Since last year, the Corporation has begun its transformation plan. I look forward to building on this momentum and putting in place new foundations that will help create more value for our shareholders, customers, suppliers and employees," said Louis Frenette.

Forward-Looking Statements

This news release contains certain statements that may be deemed to be forward-looking statements reflecting the opinions or current expectations of Colabor Group Inc. concerning its performance, business operations and future events. Such statements are subject to risks, uncertainties and assumptions and the analysis of the debt structure and available alternatives, and risks mentioned in the Corporation’s annual information form found under its profile on SEDAR (www.sedar.com), such as the risk of dilution for existing shareholders. As such, these statements are not guarantees of future performance, and actual results, realities or events may differ materially. Except as required by law, the Corporation assumes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions or other factors change.

About Colabor

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

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