Chief calls Clearwater deal a ‘generational acquisition’

Critics of $1B blockbuster say it may reignite tension in lobster fishery

HALIFAX — The Mi’kmaq chief behind a blockbuster deal to buy Atlantic Canada’s largest seafood firm says it will create wealth for generations, though critics warn it could also reignite tensions with the non-Indigenous lobster fishery.

Premium Brands Holdings Corp. and a group of Mi’kmaq First Nations announced late

Monday they are partnering to buy Clearwater Seafoods for $1 billion — the largest potential investment in the seafood industry by a Canadian Indigenous group.

On Tuesday, reaction differed sharply between Indigenous leaders and inshore, non-Indigenous fishing groups.

Membertou First Nation Chief Terry Paul said the acquisition would create an enduring legacy for Mi’kmaq communities.

“Acquiring Clearwater will have lasting positive impacts on the economics of our Mi’kmaq communities,” he said in an interview. “This is a generational acquisition that would be felt across our communities for the next seven generations.”

Paul said the long-term plan is to integrate Mi’kmaq workers into the seafood company.

He said, through attrition and retirement of existing workers, Clearwater could expand its Indigenous workforce.

Yet the deal immediately raised questions about the potential effect on the region’s “moderate livelihood” fishery.

Tensions over the treaty rights-based fishery boiled over earlier this fall after the Sipekne’katik First Nation opened a self-regulated fishery in St. Marys Bay outside of the federally regulated season.

There has been violent opposition to the treaty rights-based fishery, including boat burnings, the destruction of a lobster pound and an alleged assault against an Indigenous chief.

Rick Williams, research director for the Canadian Council of Professional Fish Harvesters, expressed concern the deal could rekindle tensions between Indigenous and non-Indigenous fishers.