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Encore Consumer Capital sells Atlantic Aqua Farms to Ontario Teachers

Encore Consumer Capital, a private equity firm that invests exclusively in leading consumer products companies, has completed the sale of Atlantic Aqua Farms (AAF) and its affiliated entities to Ontario Teachers’ Pension Plan (Ontario Teachers’).

AAF is the largest grower and processor of the renowned Prince Edward Island blue mussel, and also offers a wide selection of branded oysters, clams, and live Maine and Canadian lobster. AAF will continue to be led by Terry Ennis, CEO, and his leadership team. Financial terms were not disclosed.
 
Kevin Murphy, managing director of Encore Consumer Capital, says: “We have thoroughly enjoyed our time partnering with AAF and are proud of the accomplishments that the company has made during this time under the leadership of Terry Ennis and his team. AAF is poised to continue to flourish under its new owners, Ontario Teachers’, and we look forward to watching as the company becomes an even more important player in the sustainably grown and harvested shellfish category.”
 
“My colleagues and I have enjoyed working with Encore. In particular we appreciate the support and horsepower that the Encore team contributed to help grow AAF through substantial investment in the operations and the team and through complementary acquisitions,” says Terry Ennis. “We look forward to partnering with our new colleagues at Ontario Teachers’ to continue on that growth path so that we can bring our quality shellfish products to more consumers.”
 
William Blair provided strategic and financial advisory services to AAF and Encore, while Blake, Cassels & Graydon LLP acted as legal counsel.

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