M&A Deal Summary

Ontario Teachers Pension Plan Acquires Atlantic Aqua Farms

On November 17, 2017, pension Ontario Teachers Pension Plan acquired agriculture company Atlantic Aqua Farms from Encore Consumer Capital

Acquisition Highlights
  • This is Ontario Teachers Pension Plan’s 2nd transaction in the Agriculture sector.
  • This is Ontario Teachers Pension Plan’s 18th transaction in Canada.
  • This is Ontario Teachers Pension Plan’s 1st transaction in Prince Edward Island.

M&A Deal Summary
Date 2017-11-17
Target Atlantic Aqua Farms
Sector Agriculture
Buyer(s) Ontario Teachers Pension Plan
Sellers(s) Encore Consumer Capital
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

Atlantic Aqua Farms

Orwell Cove, Prince Edward Island, Canada
website
Atlantic Aqua Farms is the largest grower and processor of the widely-recognized, high-quality Prince Edward Island mussels under the brand names Canadian Cove and Confederation Cove, and also offers a wide selection of branded oysters, clams, and live Maine and Canadian lobster. Atlantic Aqua Farms was founded in 1987 and is based in Orwell Cove, Prince Edward Island.

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Buyer(S) 1

Buyer

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website

Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.

DEAL STATS #
Overall 112 of 175
Sector (Agriculture) 2 of 3
Type (Secondary Buyout) 38 of 56
State (Prince Edward Island) 1 of 1
Country (Canada) 18 of 26
Year (2017) 12 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 Heartland

Effingham, Illinois, United States

Heartland is the largest dental support organization in the United States, providing non-clinical administrative support services to over 840 offices and more than 1,300 supported dentists across 35 states. Hands of Heartland was founded in 1997 and is based in Effingham, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-18 Pure Group

Hong Kong, China

Pure Group is Asia's wellness brand that encompasses yoga studios (Pure Yoga), online yoga video platform (MyPureYoga.com), fitness centres (Pure Fitness), raw organic healthy eating (nood food) and performance activewear (Pure Apparel), and is dedicated to helping people lead healthier lives. Pure Group was founded in 2002 and is based in Hong Kong, China.

Buy -

Seller(S) 1

SELLER

Encore Consumer Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 600M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Encore Consumer Capital is a specialist private equity firm focused on the food and consumer products industries. Specific areas of interest include food and beverage, health and beauty care, pet, automotive aftermarket, infant and children's products, and leisure products. Encore prefers companies in revenues of $10 - $100 million. It looks to invest $5 - $40 million. Encore generally invests in control situations but will consider select minority investments. Encore will not invest in restaurant-only or retail-only companies. Encore operates in partnership with Encore Associates, a strategic advisory firm. Encore Consumer Capital was formed in 2005 and is based in San Francisco.

DEAL STATS #
Overall 12 of 21
Sector (Agriculture) 1 of 1
Type (Secondary Buyout) 2 of 4
State (Prince Edward Island) 1 of 1
Country (Canada) 1 of 1
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-15 Veggie Noodle

Austin, Texas, United States

Veggie Noodle Co. is a food brand twisting up the produce department nationwide. Founded by Mason Arnold in 2015, Veggie Noodle Co. has seen rapid growth and distribution from a single store in Austin, Texas, to more than 1400 stores in over 35 states including major retailers like Whole Foods, Kroger, Target and Sprouts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-13 Supergoop!

San Antonio, Texas, United States

Supergoop! is a skincare brand advancing the notion of SPF all-day, every day. Supergoop! is the only prestige skincare brand 100% dedicated to suncare, making it easy to incorporate UV protection into the daily routine. Supergoop! was founded in 2007 and is based in San Antonio, Texas.

Buy -
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