Clearwater Seafoods acquires Macduff Shellfish Group
Canada-based Clearwater Seafoods entered into an agreement with the Beaton Family and private equity fund Change Capital Partners to acquire 100% of the shares of Macduff Shellfish Group Ltd., a UK-based vertically integrated shellfish company.
"The acquisition of Macduff brings together two of the world's leading and fastest growing vertically integrated wild shellfish harvesters,” says Ian Smith, chief executive officer of Clearwater Seafoods. “The transaction will allow Clearwater to integrate its vessel management and sustainable harvesting practices, innovative processing technologies along with its global sales, marketing and distribution footprint into Macduff—a company that already possesses a talented local management team, excellent resource assets and a strong presence in the EU, the world's largest and most valuable seafood market. Our companies have been building a working relationship for more than three years, and we are confident Macduff represents a highly attractive investment with a strong strategic fit for Clearwater."