Premium Brands and Mi'kmaw Coalition Acquire Clearwater Seafoods for $1B
November 10, 2020
Premium Brands Holdings Corporation and a coalition of Mi'kmaw First Nations (through FNC Holdings) agreed to acquire Halifax-based Clearwater Seafoods in a roughly $1 billion transaction. The deal — recommended by Clearwater's board and intended to address founder succession — will see the Mi'kmaw coalition hold Canadian fishing licences and invest about $250 million, with the sale expected to close in H1 2021.
- Buyers
- Premium Brands Holdings Corporation, Mi'kmaw First Nations coalition (FNC Holdings)
- Targets
- Clearwater Seafoods Incorporated
- Sellers
- Clearwater Seafoods shareholders
- Industry
- Food & Beverage
- Location
- Nova Scotia, Canada
- Transaction Type
- Buyout
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