On July 26, 2017, it was announced that Canadian private equity firm Champlain Financial Corp. (Champlain) had acquired Riverside Lobster International, Inc. (Riverside), a leading branded seafood processor and wholesale distributor from Nova Scotia, supplying the finest quality lobster and scallops to customers in the United States and Canada, and 20 other countries in Europe, the Middle East and Asia.
This is the second seafood company Champlain acquired in 2017, following its acquisition of Cheticamp Fisheries International Ltd. in May, also from Nova Scotia. The merger of Riverside and Cheticamp Fisheries International Ltd. will create a global leader in the Canadian Maritime provinces seafood industry with combined revenues exceeding $175 million, and will consolidate its positioning in the $10 billion global crab and lobster industry.
Fasken Martineau DuMoulin LLP advised Champlain Financial Corp. in this acquisition with a team led by Jean-Sébastien Dugas that included Alexandra Lazar and Émilie Marceau.
Aird & Berlis LLP represented the shareholders of Riverside Lobster International, Inc. in this transaction. A&B’s team was led by Joel Rose and Joanne Coldwell, and included Barbara Worndl (tax) and Jeremy Burke (corporate and regulatory).