Mi’kmaw-Owned Partnership in Clearwater Seafoods

Abstract

The keynote presentation at the 2023 Cando Annual Conference focused on telling the story of the acquisition of Clearwater Seafoods by the Mi'kmaw Consortium and Premium Brand Seafoods. It highlighted a Mi’kmaw corporate perspective of the acquisition, co-presented Mike McIntyre, Membertou CFO, Jenny Morgan, Clearwater Seafoods LP, Darryl McDonald, CAO Paqtnkek Mi'kmaw Nation. This lesson from experience submission is a summary of their presentation which focused on three core aspects of the deal. First was the messaging around building business relationships. The endeavor was only possible because Membertou had a reputation for being community minded, trustworthy, and professional. Second, the deal was crafted to minimize risk to pre-existing community assets the deal would not hurt the borrowing potential of the coalition communities in the near or distant future. Finally, the presentation highlighted the opportunities for Clearwater to expand through strategic innovation. Although Premium Brands was not represented in the presentation, the explanation of their role in the partnership highlights the potential for strategic innovation in the future.