B.C.'s Premium Brands lent a coalition of seven Mi'kmaw First Nations about $240 million to cover their equity purchase of Clearwater in 2020. But the loan came with a hefty 10 per cent interest rate, according to the non-profit First Nations Financial Authority.
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Darren Calabrese/The Globe and Mail
Seven Mi’kmaq First Nations are now co-owners of one of the largest seafood companies in North America in a historic sale that transforms the role of Indigenous people in Atlantic Canada’s fishery.
The acquisition of Halifax-based shellfish giant Clearwater Seafoods is the largest investment in the seafood industry by an Indigenous group in Canada. The coalition of First Nations partnered with B.C.’s Premium Brands Holdings, a specialty food manufacturer and distributer,