The global COVID-19 pandemic has been a mixed bag for the seafood industry, with retailers notching record seafood sales and the category as a whole seeing gains, even as the foodservice industry virtually collapsed. That downturn is expected to change direction this year, with foodservice operators optimistic about 2021. Seafood company CEOs and advisors, speaking […]
Central banks’ responses to the COVID-19 pandemic have contributed to a flood of cheap capital that is adding fuel to the seafood sector’s push to consolidate. But with more institutional investors, such as private equities and pension funds, getting into the space alongside industry players, company valuations are getting more expensive. That’s at least the […]
One of the largest seafood sector deals in recent memory has officially closed. The CAD 1 billion ($788 million) buyout of Canadian shellfish harvester Clearwater Seafoods by Premium Brands Holdings and a coalition of First Nations is now complete, Clearwater said in a press release. In January, 99.89% of Clearwater shareholders voted for the deal, […]
US seafood entrepreneur Rodger May and Alaskan private equity McKinley CapitalManagement have closed a deal for salmon and whitefish processor Peter PanSeafoods from Japan’s Maruha Nichiro. May and McKinley confirmed to Undercurrent News the deal closed on Dec.31. Undercurrent reported the deal agreement on Nov. 2 after first reporting the interest of McKinley and May, […]
Maruha Nichiro, the world’s largest seafood company, has finalized the sale of Alaska seafood processor Peter Pan Seafoods, sources familiar with the deal told IntraFish on Monday. Tokyo-based Maruha Nichiro announced in November it reached a deal to sell the company to an investment group including Alaska-based private equity group McKinley Capital Management and Rodger May, […]
While seafood has proved resilient during the COVID pandemic, investors remain reluctant. Ignacio Kleinman, managing partner of Antarctica Advisors, says large animal protein companies are still largely perplexed by the complexity of seafood. “[They] are used to beef, that comes from only one animal, pork that only comes from only one animal,” he explained while […]
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 […]
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 […]
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 […]
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 […]