Canada's Premium Brands Holdings Corporation and a coalition of Mi'kmaq First Nations said they have entered into a definitive agreement to acquire Clearwater Seafoods, one of Canada's largest seafood companies.

Premium Brands and the coalition of First Nations, through a newly formed company owned equally between Premium Brands and the First Nations group, are acquiring all of the issued and outstanding common shares of Clearwater and the units issued under various Clearwater equity compensation plans for CAD 8.25 ($6.34/€5.36) per share in a transaction valued at approximately CAD1 billion ($769 million/€650 million), including debt.