Giant Canadian Pension Firm Enters Seafood Industry with Purchase of Largest PEI Mussel Grower
SEAFOODNEWS.COM by John Sackton November 17, 2017
The Ontario Teachers Pension Plan announced the acquisition of Atlantic Aqua Farms, the largest grower of mussels in PEI. The company was sold by its private investor, Encore Capital.
The purchase of Atlantic Aqua Farms marks Ontario Teachers' first venture into the realm of aquaculture, and falls under its natural resources mandate to invest in the global food basket, with an eye on sustainable sources of food production.
"Demand for protein is increasing, and in the context of land constraints and environmental considerations, aquaculture is among the most sustainable sources to meet this demand," said Andrew Claerhout, Senior Managing Director, Infrastructure and Natural Resources. "Atlantic Aqua Farms has built a significant aquaculture platform, underscoring the significant opportunities for long-term growth in this space."
PEI-based Atlantic Aqua Farms has been supplying North American consumers with its Canadian Cove brand mussels for over 25 years. Headquartered in Orwell Cove, Prince Edward Island, the company is the largest grower and processor of the widely-recognized,...
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