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Premium Brands Holdings Corporation and a Mi'kmaq First Nations Coalition Announce Completion of the Acquisition of Clearwater Seafoods Incorporated
Premium Brands Holdings Corporation and a Mi'kmaq First Nations Coalition Announce Comple...
About this update from Premium Brands Holdings Corporation
[{"type":"text","content":"\n \n \n \n Premium Brands Holdings Corporation and a Mi'kmaq First Nations Coalition Announce Completion of the Acquisition of Clearwater Seafoods Incorporated\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 25, 2021\n \n /CNW/ - Premium Brands Holdings Corporation (\"Premium Brands\" or the \"Company\") (TSX: PBH) and a coalition of Mi'kmaq First Nations (the \"Participating Communities\") are pleased to announce the successful completion of the previously announced acquisition of Clearwater Seafoods Incorporated (\"Clearwater\"). Pursuant to the previously announced plan of arrangement under the\n \n Canada Business Corporations Act\n \n , Premium Brands and the Participating Communities, through a subsidiary owned 50% by each of Premium Brands and the Participating Communities, acquired all of the issued and outstanding common shares of Clearwater (the \"Shares\") at a price of\n \n $8.25\n \n per Share in a transaction valued at approximately\n \n $1 billion\n \n , including debt.\n \n \n \"We are very excited to have a world class seafood company like\n \n Clearwater\n \n join our ecosystem.  The combination of its best-in-class management team, differentiated products and world renowned reputation for quality with our value-add expertise, brand development capabilities and extensive customer relationships in\n \n North America\n \n will strengthen\n \n Clearwater's\n \n business and position it to accelerate its growth,\" said\n \n George Paleologou\n \n , President and CEO of Premium Brands. \"We are also very pleased to be partnering with the\n \n Membertou\n \n , Miawpukek, Sipekne'katik, We'koqma'q, Potlotek,\n \n Pictou Landing\n \n and Paqtnkek communities. We all share a common long-term vision for\n \n Clearwater\n \n and its continuing development as a global leader in premium seafood,\" added Mr. Paleologou.\n \n \n \"This is a significant achievement for the Mi'kmaq,\" said Chief\n \n Terry Paul\n \n , Membertou First Nation. \"Mi'kmaq not only become 50% owners of the...