Canadian seafood wholesaler Quin-Sea Fisheries and Clearwater Seafoods have obtained approval from the Newfoundland and Labrador Minister of Fisheries, Forestry and Agriculture for their application to transfer the processing licence for the St Anthony fish plant.

With this approval, the two companies will now establish a new joint venture (JV) called St Anthony Seafoods, through which Quin-Sea Fisheries will assume management responsibility of the plant.

Quin-Sea Fisheries managing director Simon Jarding said: “This marks a good day for future seafood investments in Newfoundland and Labrador. Our new JV will bring a stable and long-term operation for the benefit of the partners, the employees, and the communities of the Northern Peninsula.”

The St Anthony fish plant is located on the Great Northern Peninsula. The deal between both companies is expected to bring together the operational expertise and market reach, which will benefit the fish plant.

The new JV will also improve the economic viability of the St Anthony operation and benefit the local community.

The two companies intend to work with local stakeholders to ensure a smooth operational transition and work to position the plant for a successful 2021 season.

Clearwater Seafoods CEO Ian Smith said: “We thank the community, our employees, SABRI and our local MP for their great support in securing a solid future St Anthony.

“We are pleased to bring a new partner into the St. Anthony plant who is an experienced Newfoundland operator that understands the importance of local commitment and local investment.”