Nova Scotia-based seafood giant could be up for sale.
In a release on its site, the company, which mainly harvests shellfish but also sells salmon, announced that it has initiated a formal strategic process to “identify, review and evaluate a broad range of potential strategic alternatives available to it with a view to continuing to enhance shareholder value”.
The move is seen as a possible sale of one of North America’s largest vertically-integrated seafood companies which reported sales of CAD 616 million in 2019.
“Strategic options may include, but are not limited to, a sale of all or a material portion of Clearwater’s assets, either in one transaction or in a series of transactions, the outright sale of Clearwater, a merger or other transaction involving Clearwater and a third party, joint ventures, licensing arrangements, various financing alternatives or other significant transaction,” it wrote.
