TriWest Capital Partners Announces Partnership with Ocean Brands

Calgary, Alberta – May 1, 2026 — TriWest Capital Partners (“TriWest”) is pleased to announce that it has acquired Ocean Brands (the “Company”) in partnership with the existing management, who will continue to lead the business going forward. Ocean Brands is a manufacturer, marketer, and distributor of food products in Canada and internationally under various brands, including: Ocean’s, Gold Seal, Millionaires, Nonna Pia’s, and under the Culinary Collective banner. Ocean Brands is TriWest’s third platform investment in TriWest Mid-Market Fund VI (“Fund VI”).

Ocean Brands has been executing on the Company’s mission to provide consumers with responsibly sourced foods to feed the body since 1962, and is headquartered in Richmond, BC. As a certified B Corp, Ocean Brands is committed to sustainably sourcing products and using business as a force for good. The origins of the Company’s seafood brands date back over 100 years, with Ocean Brands distributing shelf-stable salmon, tuna, sardines, anchovies, mackerel and other seafood products. The Nonna Pia’s brand is focused on bringing high-quality Italian flavours to the North American market, with the brand’s flagship balsamic glazes produced in Whistler, BC, utilizing imported non-GMO ingredients. Under the Culinary Collective banner, Ocean Brands imports and retails specialty artisanal products, including under the Company’s Matiz brand. For more information on Ocean Brands, please visit: https://www.oceanbrands.com

“TriWest is very excited to partner with Ian and the rest of the management team on continuing to grow Ocean Brands and provide nourishing food products at competitive value to consumers. The Company’s brands are well-established and built on a reputation for quality, and we look forward to working with management as they continue to expand the portfolio to bring new flavours and products to the table”, said Chad Danard, Partner at TriWest. Dave Connolly, Partner at TriWest, added, “TriWest believes Ocean Brands is uniquely positioned, with a strong focus on sustainability and responsibility for the Company’s seafood products, while bringing high-quality, authentic international flavours to local consumers.”

Ian Ricketts, President of Ocean Brands said, “The Ocean Brands team is looking forward to our partnership with TriWest, allowing the Company to continue executing on our mission and keeping the health of the oceans, people and planet in balance. We are excited to leverage TriWest’s expertise, and our shared values to continue growing Ocean Brands as a market leader in the consumer packaged goods landscape.”

Bennett Jones LLP and EY Parthenon advised TriWest on this transaction, while Scotiabank advised Ocean Brands.

About TriWest Capital Partners

Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over C$1.7 billion in committed capital through seven funds. TriWest has successfully invested in 52 companies across a broad cross-section of the economy in partnership with their management teams. We work closely with our management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information on TriWest, please visit: http://www.triwest.ca

Contact:
TriWest Capital Partners
Dino DeLuca
Partner and Chief Operating Officer
Tel: (403) 817-9665
Email: ddeluca@triwest.ca

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