M&A Deal Summary

Premium Brands Acquires Clearwater Seafoods

On November 20, 2020, Premium Brands acquired food company Clearwater Seafoods for 1.0B USD

Acquisition Highlights
  • This is Premium Brands’ 26th transaction in the Food sector.
  • This is Premium Brands’ largest (disclosed) transaction.
  • This is Premium Brands’ 20th transaction in Canada.
  • This is Premium Brands’ 2nd transaction in Nova Scotia.

M&A Deal Summary
Date 2020-11-20
Target Clearwater Seafoods
Sector Food
Buyer(s) Premium Brands
Deal Type Add-on Acquisition
Deal Value 1.0B USD
Advisor(s) McInnes Cooper (Legal)

Target

Clearwater Seafoods

Bedford, Nova Scotia, Canada
website
Clearwater Seafoods, Inc. is a vertically integrated seafood company and the largest holder of shellfish licenses and quotas in Canada. It is recognized globally for its superior quality, food safety, diversity of species, and reliable worldwide delivery of premium wild, eco-certified seafood, including scallops, lobster, clams, coldwater shrimp, crab, and groundfish. Clearwater Seafoods was founded in 1976 and is based in Bedford, Canada.

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Buyer(S) 1

Buyer

Premium Brands

Richmond, British Columbia, Canada

website

Category Company
Founded 1917
Sector Food
Employees8,707
Revenue 6.0B CAD (2022)
DESCRIPTION

Premium Brands is a manufacturer and distributor of food products in Canada and the United States. Premium Brands was founded in 1917 and is based in Richmond, Canada.

DEAL STATS #
Overall 29 of 31
Sector (Food) 26 of 28
Type (Add-on Acquisition) 27 of 29
State (Nova Scotia) 2 of 2
Country (Canada) 20 of 21
Year (2020) 3 of 3
Size (of disclosed) 1 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-31 Global Gourmet Foods

Richmond, British Columbia, Canada

Global Gourmet Foods, Inc. is a provider of ready-to-eat kettle-cooked food solutions, including protein-based fillings, specialty sauces, soup bases, and side dishes, to retailers and restaurants in Canada and internationally. Global Gourmet Foods was established in 1988 and is based in Richmond, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-04 Maid-Rite Specialty

Dunmore, Pennsylvania, United States

Maid-Rite Specialty is a manufacturer of customized cooked and raw protein solutions for retail and foodservice customers across Canada and the U.S. Maid-Rite Specialty is based in Dunmore, Pennsylvania.

Buy -
Mergr

Product

Company

Legal