After posting record sales in its second quarter of the year, Canadian firm Clearwater Seafood is actively looking at new opportunities in Asia, North America and the European Union, both organically and via merger and acquisition activity.

On a conference call with reporters and investors Thursday, CEO Ian Smith said the company has been looking at potential M&A opportunities for several months on the heels of its recent financial success.

"We've only been in a position since June 2013 to have the balance sheet to approach M&A," Smith said.