Antarctica Advisors Acts as Investment Banking Co-Advisor to Clearwater Seafoods in Blockbuster CAD 1 Billion Sale

News provided by

Jan 27, 2021, 06:00 ET

TORONTO, Jan. 27, 2021 /PRNewswire/ -- Premium Brands Holdings Corp (TSX:PBH) and a coalition of Mi'kmaq First Nations have completed the acquisition of Clearwater Seafoods Inc. (TSX:CLR) acquiring all of the issued and outstanding common shares of Clearwater for $8.25 per share in a transaction valued at approximately CAD 1.0 billion.

Clearwater shareholders provided overwhelming support for the transaction, with 99.89% of the shareholders voting to approve the transaction. Combined with Premium and the First Nations' existing seafood operations, the new entity will have more than CAD 1.3 billion in annual sales.

"We are delighted to be working with Premium Brands and the Mi'kmaq to continue to grow and strengthen our business while preserving our culture and community presence. This partnership positions us to continue building on the legacy of our founders, Colin MacDonald and John Risley, while we embark on the next chapter of a remarkable Atlantic Canadian success story" added Clearwater Seafoods CEO Ian Smith.

"The Antarctica Advisors M&A team was privileged to bring Seafood Industry-specific expertise and investor reach to enhance value for all Clearwater shareholders. Members of our team have maintained a relationship with the company and its majority shareholders for the last 15 years. We look forward to continue supporting Clearwater's growth under the new ownership." said Ignacio Kleiman, Co-founder and Managing Partner of Antarctica Advisors.

About Clearwater

Clearwater is one of North America's largest vertically-integrated seafood companies 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, langoustine, whelk and crab.

About Antarctica Advisors

Antarctica Advisors is the leading investment banking firm providing corporate clients in the global Seafood Industry with specialized M&A advisory and capital raising services. The firm's highly specialized Seafood Team is comprised of professionals with significant knowledge across the Seafood Industry, as well as a proven track record of successful transaction execution.

Antarctica Advisors LLC is a licensed broker-dealer, member of FINRA and SIPC.

For further information contact us at [email protected], call us at +1-305-961-1638, or visit www.AntarcticaLLC.com

SOURCE Antarctica Advisors