Clearwater seeks buyer

North America’s largest shellfish supplier has launched a “strategic review” of the possible sales of part or all of its business.

The Bedford, N.S. company employs more than 1,500 people in Canada and reported 2019 sales of $612 million in 59 countries.

The company has formed a special committee of independent directors to conduct the review.

Clearwater said it does not intend to disclose developments unless and until the board of directors has approved a specific transaction.There is no timetable to complete the review.

In an online CBC news report, Clearwater CEO Ian Smith said that options under review include a sale but also the possibility of joint ventures, including Indigenous partnerships.

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