November 11, 2020. Clearwater Seafoods Inc. (TSX:CLR) has entered into a definitive agreement with a coalition of Mi’kmaq First Nations and Premium Brands Holdings Corp (TSX:PBH) for the acquisition of all of the issued and outstanding common shares of Clearwater and the units issued under various equity compensation plans for $8.25 per share in a transaction valued at approximately C$ 1.0 billion, including debt. The transaction price represents a 60.2% premium to Clearwater’s average volume-weighted price for the 20-day period preceding the strategic review announcement on March 5, 2020. The transaction is expected to close in the first quarter of 2021 following the completion of pending shareholder and regulatory approvals.
November 5, 2020 – Antarctica Advisors LLC, the leading Seafood Industry-focused M&A advisory firm, acted as the exclusive investment banking advisor to Stolt Sea Farm Investments BV (“Stolt”) in its sale of Sterling Caviar LLC (“Sterling”) to affiliates of Hyde Road Agricultural Associates LLC (“Hyde Road”).
Established in 1988 by Jacob Stolt-Nielsen, Sterling became the first sturgeon aquaculture company to sustainably farm raise the specie globally. Today, Sterling Caviar is the leading producer of domestic caviar, serving the most discerning chefs, customers, and caviar connoisseurs both here in the U.S. and abroad.
The sale chips away at another portion of what used to be a massive aquaculture empire.
Norwegian shipping, oil and seafood giant Stolt-Nielsen has reached a deal to sell its Sterling Caviar division to land-based bass and sturgeon producer Hyde Road Agricultural Associates, a source familiar with the sale told IntraFish.
Sterling Caviar owns and operates four white sturgeon farms in Sacramento, California. In 1983 it became the first commercial sturgeon farming operation in California, and has long been a part of the Stolt-Nielsen operation.
The company announced in February it was looking to sell off the company, which traces its roots back to 1898 in Alaska.
Maruha Nichiro-owned Peter Pan Seafoods, one of Alaska’s oldest salmon processing companies, has been sold to a group of investors that includes Rodger May, the former owner of Washington State salmon farms now owned by Cooke Aquaculture, and private equity firm McKinley Capital Management.
Officials at Maruha Capital Investment Inc. which owns Peter Pan, along with Westward Seafoods, Alyeska Seafoods, Premier Pacific Seafoods and Trans-Ocean Products in the United States, announced in February it was looking to sell off the company, which traces its roots back to 1898 in Alaska.
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