With decades of expertise, BioFloral continues to expand and maximize its distribution network in Western Canada.
LAVAL, QC, May 17, 2023 /CNW/ - Groupe BioFloral Inc. ("BioFloral"), a privately held, vertically integrated holding company and Canada's leading distributor and manufacturer of branded hydroponic equipment and supplies for controlled environment agriculture, announced today the acquisition of Stellar Wholesale Inc. ("Stellar"), a well-established distributor in British Columbia since 2004. This transaction strengthens BioFloral's coast-to-coast distribution network and its status as the Canadian leader in a challenging market.
BioFloral welcomes Stellar's experienced staff to its team: "The acquisition of Stellar is a strategic transaction that will allow BioFloral to increase its footprint in Western Canada. We are two legacy companies that share common values and history. By joining forces, we will be able to respond yet more effectively to the needs of our customers, increase our market share and take advantage of the numerous opportunities arising in an ever-changing industry. BioFloral will remain on the lookout for growth opportunities," underlines François Deguire, Founder and President of BioFloral.
Stellar is based in Pitt Meadows and serves a significant portion of the retail and commercial production market in Western Canada. Over the years, the company has built and maintained strong relationships with a loyal customer base and today remains a crucial partner for many businesses in the Western region. Facing intense competition, Stellar is at a turning point: "By joining BioFloral, we are confident that we can ensure the sustainability of what we have built over the past two decades. The addition of BioFloral's product line and the contribution of its team of experts will allow us to maintain our personalized services and enhance our product offering for the benefit of our clients," commented Allison Ayles and Scott Hammond, Co-Founders and Directors of Stellar.
- Stellar's regional activities are complementary and compatible with those of BioFloral.
- The possibility of immediately boosting the range of products and strengthening the service offering of both parties, increasing their customer base and generating superior revenue and profit growth.
- Annual synergies and economies of scale will be realized through the integration of financial and administrative controls, as well as sales and marketing strategies.
Founded in 1999 by its President and CEO, François Deguire, BioFloral manages and controls operating subsidiaries that manufacture and distribute fertilizers, nutrients and substrates, climate control solutions, grow media, hyphen high-intensity grow lights and a broad portfolio of world-renowned branded products. BioFloral's mission is to provide growers and farmers with products that allow them to improve the quality, efficiency, consistency and profitability of their growing projects.
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SOURCE Biofloral inc.
Manon Landry, Executive Assistant, (450) 664-4844 extension 226, [email protected]
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