Premium Brands Holdings Corporation has acquired Clearwater Seafoods LP for $250.0 million. The transaction, completed through a subsidiary, transfers ownership of the Bedford-based seafood harvester to the Vancouver-headquartered food company. Clearwater will operate as a distinct business unit within Premium Brands’ portfolio.
Clearwater Seafoods is one of North America’s largest vertically-integrated seafood companies, employing over 1,900 people across offices, plants, and vessels worldwide. The company owns its fishing quotas, vessels, and processing facilities, managing operations from ocean to plate. Its product range includes scallops, lobster, clams, coldwater shrimp, and crab, sold under the Clearwater and private label brands to wholesalers, retailers, and foodservice distributors globally. Since 1976, Clearwater has emphasized sustainable resource management, and in 2015 it acquired Scotland’s Macduff Shellfish Group, adding King and Queen scallops, langoustine, and crab to its portfolio.
For Premium Brands, the acquisition brings direct ownership of wild-caught seafood supply chains, a segment that complements its existing specialty food manufacturing and distribution businesses. Clearwater’s established quotas and processing infrastructure provide a stable source of premium seafood, which Premium Brands can integrate into its broader customer network. The deal also expands Premium Brands’ geographic reach, particularly in European and Asian markets where Clearwater already has distribution channels.
The purchase price of $250.0 million reflects Clearwater’s asset base, including its fishing rights and processing capacity. Premium Brands financed the transaction using existing credit facilities, according to the company’s statement. No changes to Clearwater’s management team or operational base in Bedford have been announced.
The combined entity will focus on leveraging Clearwater’s supply chain expertise to strengthen Premium Brands’ seafood offerings across retail and foodservice channels. Integration efforts are expected to center on logistics and procurement efficiencies, while maintaining Clearwater’s brand identity and sustainability certifications. The acquisition positions the enlarged company to respond to growing demand for traceable, wild-caught seafood in North America and abroad.