Cara completes St. Hubert acquisition

Cara Operations Limited has announced that it has successfully completed the St-Hubert acquisition.
Canadian Poultry
Monday, 28 November 2016
By Canadian Poultry
Nov. 28, 2016 - Cara Operations Limited has announced that it has successfully completed the St-Hubert acquisition.  

The company first announced on March 31, 2016, that it entered into a definitive agreement to acquire 100 per cent of Group St-Hubert, Quebec's leading full-service restaurant operator as well as a fully-integrated food manufacturer for $537 million. 

Jean-Pierre Léger, the outgoing chairman and CEO of St-Hubert commented, "I'm proud of the St-Hubert legacy and confident that this new alliance with Cara will open up opportunities for St-Hubert associates as well as new possibilities, both inside and outside of Quebec, for the St-Hubert business". 

Cara's chief executive officer, Bill Gregson, said, "This acquisition represents a historic alliance and an excellent strategic fit for both companies. It gives St-Hubert the opportunity to expand its restaurant network as well as to drive a national retail food program on behalf of Cara, leveraging St-Hubert's existing management, Quebec manufacturing facilities and supplier network".

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