February 4, 2020 – Antarctica Advisors LLC, the leading Seafood Industry-focused M&A advisory firm, acted as the exclusive investment banking advisor to Clear Springs Foods Inc. (“Clear Springs”), the leading grower and processor of rainbow trout in the US, in its sale to Riverence Holdings LLC (“Riverence”), a neighboring producer of steelhead trout.
Based in Idaho’s pristine Magic Valley, Clear Springs was established in 1966 and since 2000 has been employee-owned through an Employee Stock Ownership Plan (“ESOP”). The merger of Clear Springs and Riverence creates the largest producer of trout in the Americas with unrivaled expertise ranging from brood stock, farm operations through processing and national distribution. The scale of the new company will broaden the market for sustainably produced Idaho-raised trout and allow it to offer customers a wider range of quality products, including both rainbow and steelhead trout in fresh, frozen and value-added forms.
Jeff Jermunson, President and CEO of Clear Springs, commented: “The combination of Clear Springs and Riverence enhances a strong platform with over 50 years of expertise in trout aquaculture while creating substantial value for our employee-owners, who will continue to be pivotal in the long-term success of the company. Antarctica Advisors played a key role in helping us navigate this complex process, dispensing senior level M&A advise, and negotiating the best possible deal for our shareholders.”
Ignacio Kleiman, Managing Partner of Antarctica Advisors, commented: “The acquisition of Clear Springs by Riverence is a game-changer that reinforces the position of U.S. aquaculture. We are grateful to have had the opportunity to be able to apply our Seafood and transactional expertise to help open a new chapter for one of the Industry’s crown jewels.”
The Riverence family of businesses now includes Riverence Brood (egg production), Riverence Farms and Clear Springs Foods (trout production, processing and distribution). Together, the companies have full “egg to plate” control of their supply chain, with nationwide availability.
Antarctica Advisors is the leading US-based, independent investment banking firm providing corporate clients in the global Seafood Industry with specialized M&A advisory, private equity and debt 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.