Maruha-Nichiro of Japan to form Capital and Business Alliance with Clearwater Seafoods

Maruha-Nichiro Holdings Inc. of Japan announced that it will form a capital and business alliance with Halifax-based Clearwater Seafoods Limited Partnership through the indirect purchase of preferred shares, which will be convertible to 33.4% of common share of Clearwater Seafoods. The total consideration will be approximately C$88 million. The alliance will combine both firms´ access to marine resources and allow each company to utilize each other´s global sales network. Clearwater Seafoods is focused on fishing, processing and sales of crusteaceans and shellfish. Maruha Nichiro is a group business focused on marine products, food processing, chemical foods, fish breeding and livestock feed.