Canadian First Nations buy $750M shellfish producer

Mi’kmaq First Nations Coalition has partnered with a B.C.-based distributor to buy Clearwater Seafoods, the largest producer of shellfish in North America.

This interesting article is about the Canadian Marine and Food Manufacturing industries. Alfa Laval’s sells and repairs heat transfer, separation systems, pumps and valves for refrigeration, food processing and reduce energy costs.

Read the full article on maritime-executive.com

“…A Mi’kmaq First Nations Coalition has partnered with a B.C.-based distributor to buy Clearwater Seafoods, the largest producer of shellfish in North America.

Clearwater also happens to be one of the largest buyers of lobster in Nova Scotia, where one Mi'kmaq first nation has encountered fierce (and sometimes violent) local resistance to its treaty-rights lobster fishery.

"This is a transformational opportunity for the Mi’kmaq to become significant participants in the commercial fishery through the investment in existing infrastructure, management expertise, and a global market presence." said Chief Terry Paul of the Membertou First Nation. "Mi’kmaq not only become 50 percent owners of the company but expect to hold Clearwater’s Canadian fishing licences within a fully Mi’kmaq owned partnership."

 

The Mi’kmaq are splitting ownership in Clearwater on a 50/50 basis with Premium Brands, a diversified food manufacturing and distribution company. The deal is valued at about $750 million…