High Liner Foods to be bought by Umios in deal valued at $804 million
Nova Scotia seafood processor High Liner Foods Inc. says it has signed a deal to be bought by Japanese company Umios Corp. in an agreement valued at $804 million.
High Liner Foods, a Nova Scotia-based seafood processor, has agreed to be acquired by Japanese multinational corporation Umios Corp. in a deal valued at $804 million. Umios, a global leader in the seafood industry, will pay $27 per share in cash for the transaction, which closed at $15.08 per share on the Toronto Stock Exchange.
Upon completion, High Liner Foods will be integrated into Umios' North American business operations, while retaining its headquarters in Nova Scotia. The deal requires shareholder and other approvals, and the transaction is expected to close in early 2027. Umios' president, Daisuke Yasuda, stated that the company is committed to preserving the heritage of High Liner Foods, a historic Nova Scotian and Atlantic Canadian business.
High Liner Foods, founded in 1899, is one of North America's largest producers of frozen seafood products, serving grocery stores, restaurants, and food retailers across Canada and the U.S. The acquisition was recommended unanimously by High Liner Foods' board of directors after a competitive sale process overseen by a special committee.
Shareholders will vote on the transaction in December, with approval requiring 75% of votes. Once the transaction is finalized, High Liner Foods shares will be delisted from the Toronto Stock Exchange.
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