Sapphire Springs acquires Yukon’s arctic char farm, Icy Waters

Catkin Ventures Inc., a family-owned holding company has announced the closing of the sale of Icy Waters Ltd.—an arctic char farm in Whitehorse, Yukon—to Sapphire Springs Inc., a land-based closed containment aquaculture company north of Winnipeg, Manitoba.

Icy Waters’ arctic char ova has been exported to aquaculture facilities worldwide. The company also grows, harvests, and sells its fish to food distributors throughout Canada.

Sheri James, president of Catkin Ventures said although she’s proud of their accomplishments since 1990, it was time to find someone to take over. “SSI is committed to leveraging and building upon what our team has developed. We are excited to watch their progress,” said James.

Sapphire Springs’ president Ken Blair said, “We are excited to have acquired their renowned brood stock, aquaculture expertise, and brand and are committed to building on this fantastic foundation of quality. SSI is well poised to fulfill our vision faster because of this acquisition.”

Doug Hotson, general manager of Icy Waters is moving to Sapphire Springs to help lead the transition. “While SSI has an extensive facility in Manitoba, IWL’s location in Whitehorse will remain strategically important. Our customers will see no change in the commitment to exceptional quality and service and everyone is excited to see this next stage in the growth of this company,” said Hotson. 

No terms were disclosed concerning the sale but the transaction closed Oct. 26.