NewPoint Transaction Announcement

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Industry
Commercial Fishing and Processing

Company Profile
Great Lakes Food Company is the largest harvester and processor of fresh water smelt in the world. The Company is based near the north shore of Lake Erie in Chatham, Ontario.

NewPoint’s Role
NewPoint was retained by the Company’s private equity owner, Covington Capital, to explore a potential sale of the Company and assist the shareholders and management with all aspects of evaluating, negotiating and closing a transaction.

Transaction Snapshot
NewPoint planned and executed a disciplined and confidential sale process, including strategic and financial investors across North America and Asia. After receiving multiple offers, NewPoint advised that a management buyout would maximize Covington’s proceeds. NewPoint assisted in the negotiation of all key transaction terms including the purchase price, due diligence and agreements related to closing.

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