Antarctica Advisors Acts as Investment Banking Advisor to Clearwater Seafoods Inc. in its sale to Premium Brands Holdings and Mi’kmaq First Nations Coalition

November 11, 2020.  Clearwater Seafoods Inc. (TSX:CLR) has entered into a definitive agreement with a coalition of Mi’kmaq First Nations and Premium Brands Holdings Corp (TSX:PBH) for the acquisition of all of the issued and outstanding common shares of Clearwater and the units issued under various equity compensation plans for $8.25 per share in a transaction valued at approximately C$ 1.0 billion, including debt. The transaction price represents a 60.2% premium to Clearwater’s average volume-weighted price for the 20-day period preceding the strategic review announcement on March 5, 2020. The transaction is expected to close in the first quarter of 2021 following the completion of pending shareholder and regulatory approvals.

I am very pleased to recommend this transaction. It represents great value for shareholders, leverages the expertise within the company while advancing Reconciliation in Canada,” said Colin MacDonald, Chair of the board of directors of Clearwater “I am confident that this transaction will enhance the culture of diversity and sustainable seafood excellence that exists at Clearwater.

Ignacio Kleiman, Managing Partner of Antarctica Advisors added:

This is an exciting transaction which changes the landscape of the North American and the Global Seafood Industry. We were honored to have been selected by the Special Committee of the Board of Directors of Clearwater to work jointly with the Canadian advisor due to our industry-specific knowledge and long relationship with the Company.

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.