Membertou First Nation and six Mi'kmaq First Nations acquire a 50% stake in Clearwater, a leading seafood company, to foster economic empowerment and promote sustainable practices.

Information on the Target

The acquisition target in this deal is Clearwater, a prominent global wild-caught seafood company. Clearwater has established itself as a leader in the seafood industry, renowned for its commitment to sustainable fishing practices and high-quality products. This company is particularly recognized for its diverse range of seafood offerings, which include premium shellfish and finfish harvested from the North Atlantic Ocean.

The acquisition allows the acquiring group, consisting of the Membertou First Nation and six other Atlantic Canadian Mi'kmaq First Nations, to hold a significant 50% stake in Clearwater. This transaction marks a notable shift in ownership within the seafood market and aims to empower Indigenous communities through business involvement and revenue generation.

Industry Overview in Canada

Canada's seafood industry is vibrant and diverse, with a strong focus on sustainability and responsible fishing. It significantly contributes to the country's economy, providing thousands of jobs and supporting coastal communities. The industry has been na