Umios to Acquire Nova Scotia Seafood Producer High Liner Foods for $804 Million
Japanese seafood giant Umios Corp. agreed to buy High Liner Foods Inc. for $804 million, offering $27 per share in cash.
High Liner Foods Inc., a historic seafood processor founded in Lunenburg, Nova Scotia, in 1899, has signed an agreement to be purchased by Japan's Umios Corp. for $804 million, translating to a cash payment of $27 per share. The offer exceeds the stock's recent $15.08 price on the Toronto Stock Exchange. Umios intends to use High Liner as the cornerstone of its North American business while retaining the company's Nova Scotia base and existing brands.
The companies pledged to keep High Liner's employees and supplier relationships intact. Thornridge Holdings Ltd., holder of a 41.4% stake, has agreed to back the transaction, which now awaits a shareholder vote requiring a 75% majority and other regulatory approvals. The sale will be executed through a court-approved plan under the Nova Scotia Companies Act and is slated to close in early 2027, after which High Liner's shares will be delisted from the TSX.
Why it matters
The acquisition reshapes North American seafood supply chains and secures the future of a century-old Canadian company.
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