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Aug 8, 2017
Riverside Lobster International Inc. Completes Divestiture to Champlain Financial Corporation
Riverside Lobster International Inc. recently completed its divestiture to Champlain Financial Corporation, a private equity firm headquartered in Montreal, Quebec. Riverside is a prominent seafood processor and wholesale distributor located in Meteghan Center, Nova Scotia, that supplies lobster and scallops to customers in the United States, Canada and 20 other countries in Europe, the Middle East and Asia.
Riverside will be merged with Cheticamp Fisheries International Ltd., which Champlain acquired in May 2017, to create a global leader in the Canadian Maritime provinces seafood industry, with combined revenues in excess of $175 million. Aird & Berlis LLP previously acted in the sale of Cheticamp to Champlain.
Marc Poulin, formerly CEO of Sobeys, will become the Executive Chairman of Champlain’s seafood platform.
Aird & Berlis LLP represented the shareholders of Riverside in this transaction. A&B’s team was led by Joel Rose and Joanne Coldwell, and included Barbara Worndl (tax), Jeremy Burke (corporate and regulatory) and students Cristina Senese and Sarah Newman.