Clearwater co-owner Premium Brands continues seafood acquisition spree, boosting earnings sharply

Canada’s Premium Brands Holdings, the new co-owner of shellfish and processing giant Clearwater Seafoods, continued its recent acquisition spree in the second quarter of the year, as both earnings and revenue surged.

Premium's second quarter adjusted earning before interest, taxes, depreciation and amortization (EBITDA) reached CAD 112.2 million (€75.7 million/$89.6 million), a 67.2 percent increase compared with the second quarter of 2020.

Revenue during the quarter hit a record CAD 1.2 billion (€809.2 million/$958.7 million) representing a 26.4 percent increase on the same period a year ago.