CALGARY, Nov. 1, 2011 /CNW/ – Edleun Group, Inc. (TSX-V-EDU) (“Edleun” or the “Company“), the leading consolidator and developer of Early Learning & Care centres in Canada announced today that it has completed the acquisition of three child care centres previously announced in its news release dated September 26, 2011.
“These are our first acquisitions in each of these Calgary communities, further complementing the strength and visibility of the Edleun brand and our goal of delivering a high quality child care alternative for Alberta’s families,” saidMr. Leslie Wulf, Vice Chairman, Corporate Development.
Edleun purchased the three operating child care centres as well as the underlying real estate from a single vendor for$5.3 million. The two centres in Calgary are located in the southwest and southeast quadrants of the city and each have a capacity of 100 licensed child care spaces. The third centre is located in Okotoks, a growing community south of Calgary, and has 63 licensed child care spaces. This acquisition adds a total of 263 licensed spaces to the Company’s growing portfolio.
In addition, Edleun decided not to purchase the child care centre in Vernon, BC for $300,000, as disclosed in theSeptember 26, 2011 release.
The Company continues to finalize the purchase of the child care centre and property in Airdrie, Alberta located just north of Calgary, for $900,000 as described in the press release of September 26th. Upon closing, this centre will add 70 licensed spaces to the Company’s portfolio.
This brings the total, including centres owned and transactions previously announced to acquire, redevelop or build centres, to 3,675 licensed spaces in 38 Early Learning & Care centres.