The Ontario Teachers’ Pension Plan is acquiring a North American aquaculture farm from Encore Consumer Capital.
Atlantic Aqua Farms, headquartered in Orwell Cove, P.E.I., is the largest grower of live mussels on the continent, according to a news release, which notes the purchase is part of the pension fund’s contribution to the “global food basket” and its efforts to make investments with sustainable food production in mind.
Read: Ontario Teachers’ takes on investment partners at British airports
“Demand for protein is increasing, and in the context of land constraints and environmental considerations, aquaculture is among the most sustainable sources to meet this demand,” said Andrew Claerhout, senior managing director of infrastructure and natural resources at Ontario Teachers’, in the release.
“Atlantic Aqua Farms has built a significant aquaculture platform, underscoring the significant opportunities for long-term growth in this space.”
The company sells its mussels under several brands, including Canadian Cove, Confederation Cove and J.P.’s Shellfish. In addition, the company also produces oysters, clams and lobster.
Read: Ontario Teachers’ reports 3.6% mid-year return amid currency drag