This transaction represents the single largest investment in the seafood industry by an Indigenous group in Canada.
Membertou First Nation, in partnership with six other Atlantic Canadian Mi’kmaq First Nations, had the opportunity to partner with Premium Brands—a North American specialty food manufacturer and distributor— to acquire 50% of Clearwater, a Halifax-based global wild-caught seafood company.
By taking the time to understand our client’s history, perspectives, values, and needs – we were able to advise our longstanding client on this historic acquisition, matters related to debt sourcing, and relationships with other stakeholders.
This strategic investment represents a transformational change in the Canadian seafood industry. Membertou – and the 6 other Indigenous communities in their consortium — are now in a global leadership position in the seafood industry with the largest holdings of shellfish licenses and quotas in Canadian fisheries.
Client
Membertou
Transaction type
Acquisition
Services provided
M&A
Sector
Food and Beverage
Close date
January 2021
“I would like to acknowledge that we worked closely with the Breton Law Group and Grant Thornton to complete this complex and intricate deal. The work of these local firms was second to none, and to them we are grateful.”
“Good business requires good relationships.”
Terry Paul, O.C
Chief & CEO, Membertou
