Pension plan buys Atlantic Aqua Farms mussel producer
Saturday, November 18, 2017, 02:20 (GMT + 9)
Ontario Teachers' Pension Plan (OTPP) has acquired shellfish producer Atlantic Aqua Farms from San Francisco-based Encore Consumer Capital, which is its first venture into the realm of aquaculture.
The initiative falls under OTPP natural resources mandate to invest in the global food basket, with an eye on sustainable sources of food production.
"Demand for protein is increasing, and in the context of land constraints and environmental considerations, aquaculture is among the most sustainable sources to meet this demand," said Andrew Claerhout, Senior Managing Director, Infrastructure and Natural Resources.
PEI-based Atlantic Aqua Farms has been supplying North American consumers with its Canadian Cove brand mussels for over 25 years.
Headquartered in Orwell Cove, Prince Edward Island, the company is the largest grower and processor of the widely-recognized,... FULL STORY