Kevin Murphy, managing director of Encore Consumer Capital, said, “We have thoroughly enjoyed our time partnering with AAF and are proud of the accomplishments that the company has made during this time under the leadership of Terry Ennis and his team. AAF is poised to continue to flourish under its new owners, Ontario Teachers’, and we look forward to watching as the company becomes an even more important player in the sustainably grown and harvested shellfish category.”

“My colleagues and I have enjoyed working with Encore. In particular we appreciate the support and horsepower that the Encore team contributed to help grow AAF through substantial investment in the operations and the team and through complementary acquisitions,” said Terry Ennis. “We look forward to partnering with our new colleagues at Ontario Teachers’ to continue on that growth path so that we can bring our quality shellfish products to more consumers.”

William Blair provided strategic and financial advisory services to AAF and Encore, while Blake, Cassels & Graydon LLP acted as legal counsel.

About Encore Consumer Capital
Encore Consumer Capital is a San Francisco-based private equity investment firm focused on the consumer products industry. The firm has raised over $600 million in equity capital and invested in 26 companies. Encore’s current and prior investments include food and beverage companies (Aidells Sausage Company, Brownie Brittle, Fantasy Cookie, Full Sail Brewing, Isopure, Mesa Foods, Navitas, Thanasi Foods, Veggie Noodle Co.), personal care products companies (butter LONDON, MyChelle Dermaceuticals, LORAC, tarte), and pet products companies (ThunderWorks, Zuke’s), among others. The firm targets companies with between $10 million and $100 million in annual revenues where Encore’s strong operating expertise in strategy development, brand marketing and distribution expansion can help drive performance.

About Atlantic Aqua Farms
AAF is the largest grower and processor of the widely-recognized, high-quality Prince Edward Island mussels under the brand names Canadian Cove and Confederation Cove, and also offers a wide selection of branded oysters, clams, and live Maine and Canadian lobster. Please visit

About Ontario Teachers’
The Ontario Teachers’ Pension Plan is Canada’s largest single-profession pension plan, with CAD$180.5 billion in net assets at June 30, 2017. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annualized gross rate of return of 10.1% since the Plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario’s 318,000 active and retired teachers. For more information, visit and follow us on Twitter @OtppInfo.