Stocks in play: K-Bro Linen Inc.

Today announced that it has successfully completed its acquisition of Buanderie Villeray and its affiliate Buanderie La Relance for an enterprise value of $11.5 million and a potential earnout of $1 million. Villeray is a private laundry and linen operator centrally located in Montréal and serving the healthcare and hospitality markets with annual revenues of approximately $10 million. K-Bro will invest a further $5 million in capital expenditures to expand capacity and enhance operational efficiencies, enabling our Montreal business to significantly and profitably grow. As part of the transaction, K-Bro will close its Granby facility and consolidate its volumes into Villeray. K-Bro anticipates that the integration of its existing Granby operations into Villeray will be completed by the end of Q2 2024. The purchase price and capital expenditures will be satisfied by drawing down on K-Bro's revolving credit facility. K-Bro Linen Inc. shares T.KBL are trading unchanged at $31.62.

Read:

• Why Pancreatic Cancer is No Longer a Death Sentence: Emerging Therapies to Watch

• Mining Industry's Strategic Shifts: Gold Reshuffling in Response to Inflation and Sanctions

• The Fight Against Pancreatic Cancer Just Gained a New Ally with $200M VC Firm

• Canada’s Gold Sector Gaining Boosts from Several Promising Quebec Projects and Mines

• Decoding the Lithium Rush: From Oil Giants to Automakers