In Canada’s Atlantic waters, two big fish are circling each other in a standoff that will determine the future shape of the region’s oldest industry.
At 63, Nova Scotia’s John Risley is a weathered warrior who has battled his way to an empire based on the traditional fishery – going out in boats and catching wild things.
At 47, New Brunswick’s Glenn Cooke is a younger acquisitor who has been consolidating the growing industry of farming fish inside big cages.
Now Mr. Cooke wants to net Mr. Risley’s Clearwater Seafoods Inc. to create a Canadian champion in catching and farming – a trophy that would propel him towards global sales of more than $1-billion a year.
The problem is Mr. Risley isn’t ready to roll over yet – although he leaves the door open for a deal.
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