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People Corporation Announces Acquisition of Benefit Partners Inc.

Enhances People Corporation’s Presence in the Ontario Market, Including in New Geographic Regions of the Province

WINNIPEG, Manitoba, Nov. 28, 2018 (GLOBE NEWSWIRE) — People Corporation (TSX-V: PEO) (the “Company”) announced today the completion of the acquisition of Benefit Partners Inc. (“Benefit Partners” or “BPI”), a leading independent privately-owned employee group benefits and group retirement consulting firm in the Ontario market (the “Transaction”).  The addition of BPI to the People Corporation group of companies enhances the Company’s position in the Ontario market, including establishing a presence in regions in which the Company did not formerly have a physical location.  The terms of the Transaction have not been disclosed.

Founded in 1995, and with roots dating back to the mid-1970s, BPI provides employee benefits, group retirement and HR consulting services to companies of all sizes from a variety of industries.  With offices in Sudbury, Port Colborne and Barrie, BPI’s client base includes over 270 businesses throughout the province.  BPI has earned a reputation as a ‘trusted advisor’ amongst its client base by building strong relationships, providing thoughtful advice, implementing innovative solutions and delivering superior service.  BPI’s principals, Vic Skot, Dan Millar and Peter DiPietrantonio, will continue to run the operations as part of the People Corporation group of companies, and their highly-talented and dedicated team of management and staff will continue to provide industry-leading service to its clients.

“We are very pleased and excited for the future of Benefit Partners, including for our staff and our clients, as we partner with Canada’s foremost employee benefits, pension and HR consulting firm,” commented Vic Skot.  Dan Millar added, “The client-focused approach with which we provide advice, implement solutions, and deliver service will continue as it has in the past, but now we will be able to provide an even broader range of products and services from a partner with significant scale and a national footprint.”  Peter DiPietrantonio concluded, “Our culture and approach to doing business are highly aligned with those of People Corporation, which is why we are so confident in a positive future for all stakeholders.”

“The addition of BPI to the People Corporation family enhances our presence in Ontario, which represents Canada’s largest employer market, and one which is clearly important as we build the premier independent national provider of group benefits, group retirement and human resources consulting services,” commented Mr. Laurie Goldberg, Chairman and CEO of People Corporation.  Mr. Goldberg added, “BPI has an exceptional business that has been built over decades, and we are excited to be partnering with such a highly respected and successful organization.  We would like to welcome Vic, Dan, Peter and the rest of the BPI team into the People Corporation family.”

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