Canada’s Clearwater Seafoods has agreed to buy Aberdeenshire firm Macduff Shellfish Group in a deal worth £98.4million.
Macduff, based in Mintlaw, is being sold by the Beaton family and Change Capital Partners, a private equity fund.
Clearwater chief executive Ian Smith said: The acquisition of Macduff brings together two of the world’s leading and fastest growing vertically integrated wild shellfish harvesters.
“The transaction will allow Clearwater to integrate its vessel management and sustainable harvesting practices and 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.”
