March 12 (Reuters) - Colabor Group Inc GCL.TO :
* PRESS RELEASE - COLABOR ANNOUNCES THE SALE OF ITS SUMMIT FOODS DIVISION IN ONTARIO
* COLABOR GROUP - REACHED AGREEMENT FOR SALE OF CO'S SUMMIT FOODS DIVISION IN ONTARIO TO FLANAGAN FOODSERVICE FOR PROCEEDS OF ABOUT $10.0 MILLION
* COLABOR GROUP INC - FLANAGAN FOODSERVICE WILL ALSO BECOME EXCLUSIVE DISTRIBUTOR OF COLABOR'S MENU BRAND IN ONTARIO
* COLABOR GROUP - TRANSACTION INCLUDES SUMMIT MISSISSAUGA DISTRIBUTION CENTER, STREET & SYSTEM BUSINESS & MAJORITY OF EMPLOYMENT CONTRACTS