Canada's Arctic Clearwater plans to restructure its lobster business and sell a temporary breeding base

Published 2025년 3월 4일

Tridge summary

Arctic Clearwater, a company owned 50-50 by Premium Brands and indigenous groups, is making significant changes to its lobster-related operations. The company is selling its live lobster holding facility in Arichat, Nova Scotia, to a local operator and closing its Lockeport plant, which will pivot to scallop processing. The Arichat base, capable of temporarily raising up to one million pounds of lobsters, has been closed, leading to temporary layoffs for employees. Despite these changes, Arctic Clearwater is not completely withdrawing from the lobster business and is exploring investment in a new fishing vessel to grow its lobster business and strengthen its shellfish business through vertical integration and other strategies.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On February 27, Arctic Clearwater said in a statement that it was adjusting its lobster procurement, grading, live holding and processing operations, including the sale of its live lobster holding facility in Arichat, Nova Scotia. Christine Penney, vice president of sustainability and public affairs at Arctic Clearwater, said: "We are currently in late-stage negotiations to sell our Arichat live lobster holding facility to an experienced local operator, and the Lockeport plant will no longer open lobster processing production lines. The plant will focus on scallop processing and operate 12 months a year." Arctic Clearwater is owned by Premium Brands (50% stake) and indigenous groups (Mi'kmaq First Nations, 50% of the shares are jointly held by the two companies. The Arichat base in Nova Scotia can temporarily raise up to 1 million pounds of lobsters, and in the past, up to 4 million pounds of lobsters were exported from the base each year. The Arichat base is now closed and ...

Source: Foodmate