Champlain, Claridge partner in acquisition of Captain Dan’s Seafood


Champlain Financial Corp has partnered with Claridge, a Canadian family office, in the acquisition of Captain Dan’s Seafood, a Dieppe, New Brunswick-based seafood processor that specializes in lobster and snow crab products. Terms weren’t disclosed. The deal was done by the Champlain Seafood platform, formed in 2017 with the Canadian private equity firm’s acquisitions of Cheticamp Fisheries and Riverside Lobster. Founded in 1994, Captain Dan’s serves corporate customers in North America, Europe and Asia.

PRESS RELEASE

The Champlain Seafood platform acquired Captain Dan’s Seafood with the financial support of Claridge Inc.

Montréal, QC, Canada, October 1st, 2019 – The Champlain Seafood platform (the “Company”), parent company of lobster and crab processors Cheticamp Fisheries, Riverside Lobster International, Boston Lobster, Petit de Grat Packers and Cape Bald Packers, is pleased to announce its recent acquisition of Captain Dan’s Seafood (“Captain Dan’s”). The addition of Captain Dan’s further strengthens the Company’s worldwide industry leading position in its sector. Claridge Inc. (“Claridge”) has partnered with Champlain Financial Corporation (“Champlain”) and made a strategic investment in support of this plan to create a world-class seafood processing and marketing platform based in Canada.

Captain Dan’s is a New Brunswick-based seafood processor that specializes in transforming lobster and snow crab into premium products for corporate customers in North America, Europe and Asia.

The acquisition of Captain Dan’s will allow the Company to optimize its operational capabilities by diversifying its offering. Moreover, the Company will be able to increase its sales force and develop growing foreign markets while creating new employment opportunities in the Canadian crab and lobster industry and supporting its long-term economic prosperity.

“We’re delighted that Captain Dan’s has joined the Champlain Seafood platform. As a result, we’ll be able to serve our customers better and strengthen our relationships with our suppliers,” says Normand LeBlanc, Owner and President of Captain Dan’s.

“This acquisition is in line with our goal to become the world leader in the $10 billion crab and lobster industry. We’re also pleased to welcome Normand LeBlanc to our executive management team as well as the other Captain Dan’s managers, who together form a team of world-class business operators,” says Marc Poulin, Executive Chairman of the Company.

About Captain Dan’s Seafood

Founded in 1994 in Shediac, New Brunswick, Captain Dan’s Seafood has grown as a processing business primarily for Atlantic lobster and snow crab, but also for rock crab and shrimp. The private company operates a modern processing plant in Cap-Lumière with more than 200 employees and sells its high-quality products to major distributors, restaurant chains, cruise lines and regional distributors in North America, Europe and Asia. www.captaindans.com

About Champlain Financial Corporation

Champlain Financial Corporation, a Canadian private holding company based in Montreal, Quebec, operates a private diversified investment portfolio, currently with a series of investments throughout Canada and United States. Champlain’s core focus is to serve as a value-added financial partner in providing equity capital and growth management expertise for small and middle-market companies. www.champlaincanada.com

About Claridge Inc.

Claridge is a Montreal-based family office that represents the interests of the Stephen Bronfman family, with a focus on maximizing long-term capital appreciation. Claridge is actively engaged in managing a diversified portfolio of investments in private companies as well as interests in third-party managed funds in a variety of industries across the globe. As a strategic financial investor, our direct equity participations span a range of industry sectors, including holdings in food, technology, entertainment, renewable energy, and real estate. Claridge focuses its investments in small and medium-sized businesses and contributes its expertise in partnership with management to accelerate growth.