TORONTO, Jan. 27, 2021 /PRNewswire/ -- Premium Brands
Holdings Corp (TSX:PBH) and a coalition of Mi'kmaq First Nations
have completed the acquisition of Clearwater Seafoods Inc.
(TSX:CLR) acquiring all of the issued and outstanding common shares
of Clearwater for $8.25 per share in
a transaction valued at approximately CAD
1.0 billion.
Clearwater shareholders
provided overwhelming support for the transaction, with 99.89% of
the shareholders voting to approve the transaction. Combined with
Premium and the First Nations' existing seafood operations, the new
entity will have more than CAD 1.3
billion in annual sales.
"We are delighted to be working with Premium Brands and the
Mi'kmaq to continue to grow and strengthen our business while
preserving our culture and community presence. This
partnership positions us to continue building on the legacy of our
founders, Colin MacDonald and
John Risley, while we embark on the
next chapter of a remarkable Atlantic Canadian success story"
added Clearwater Seafoods CEO Ian
Smith.
"The Antarctica Advisors M&A team was privileged to bring
Seafood Industry-specific expertise and investor reach to enhance
value for all Clearwater
shareholders. Members of our team have maintained a relationship
with the company and its majority shareholders for the last 15
years. We look forward to continue supporting Clearwater's growth under the new
ownership." said Ignacio
Kleiman, Co-founder and Managing Partner of Antarctica
Advisors.
About Clearwater
Clearwater is one of North America's largest
vertically-integrated seafood companies and the largest holder of
shellfish licenses and quotas in Canada. It is recognized
globally for its superior quality, food safety, diversity of
species and reliable worldwide delivery of premium wild,
eco-certified seafood, including scallops, lobster, clams,
coldwater shrimp, langoustine, whelk and crab.
About Antarctica Advisors
Antarctica Advisors is the leading investment banking firm
providing corporate clients in the global Seafood Industry with
specialized M&A advisory and capital raising services. The
firm's highly specialized Seafood Team is comprised of
professionals with significant knowledge across the Seafood
Industry, as well as a proven track record of successful
transaction execution.
Antarctica Advisors LLC is a licensed broker-dealer, member of
FINRA and SIPC.
For further information contact us at Corporate@AntarcticaLLC.com,
call us at +1-305-961-1638, or visit www.AntarcticaLLC.com
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SOURCE Antarctica Advisors