K-Bro Acquires Montreal Plant, Shutters Granby Facility
K-Bro Linen will close its plant in Granby, Que., after completing the acquisition of laundry firm Buanderie Villeray for $11.5 million.
Edmonton-based K-Bro announced that it will shutter its Granby plant and consolidate its volumes into Villeray’s Montreal facility. The acquisition includes Villeray’s affiliate Buanderie La Relance. (Buanderie is the French word for laundry.)
“Our acquisition of Villeray enhances K-Bro’s position within the attractive Montreal market,” said Linda McCurdy, K-Bro’s president and CEO, in a news release.
Granby is located about 100 kilometres east of Montreal. The acquired Villeray plant is centrally located in Montreal, serving the hospitality and healthcare markets and generating annual revenues of $10 million.
K-Bro will invest $5 million to expand capacity the acquired plant’s capacity and enable its Montreal business “to significantly and profitably grow,” said the company.
The integration is expected to be complete by mid-year 2024. K-Bro will fund the purchase and capital expenditures through its revolving credit facility.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.