Kitchener, ON – May 11, 2020 – Today, Flanagan Foodservice is pleased to announce that the purchase of certain assets from the Summit Food Service division of Colabor Group has been closed.
Although originally expected to close at the end of April, the devastating impact of the COVID-19 pandemic on the foodservice industry including many of Flanagan’s and Summit’s restaurant and other customers, led to some amendments in the agreement and a slight delay in the closing. The significant reduction in sales has created ample capacity for Flanagan’s to integrate the Summit business into its existing operations. As a result, Flanagan’s is not acquiring Summit’s Mississauga facility, operations and distribution network.
“This transaction will allow Flanagan’s to combine the Summit business with our own and help to mitigate the adverse impact of the COVID-19 pandemic“, says Dan Flanagan, CEO of Flanagan Foodservice Inc. “and subsequently continue to grow and provide our unique brand of service to all existing and new customers as the economy starts returning to normal in the months and years ahead.
The process of integrating the Summit business and customers into Flanagan’s operations will begin immediately and it is expected to be completed before the end of June 2020.