Canadian Seafood company Clearwater Seafoods – a subsidiary of Premium Brands Holding Corporation and Mi’kmaq First Nations Coalition – is selling the land-based processing operations of Macduff Shellfish to Seafood Ecosse.
Clearwater Seafood said that as part of the sale, the company is entering into a strategic alliance with Seafood Ecosse in the Macduff Shellfish business. The land-based processing operations will be operated by Seafood Ecosse – returning them to Scottish ownership – while the scallop-fishing vessels will continue to be operated by Macduff and Clearwater and exclusively supply Macduff’s operations.
The exact terms of the deal were not disclosed by either party.
“The sale of the Macduff land-based operations and a strategic alliance with Seafood Ecosse will strengthen the Macduff Shellfish business,” Clearwater CEO Ian Smith said in a statement sent to SeafoodSource. “This transaction will also strengthen our balance sheet and provide increased flexibility within our core operations.”
Clearwater Seafoods purchased Macduff Shellfish Group in 2015.
