Umios Acquires High Liner Foods for CAD804 Million
News related to:Umios · 2 min read
TOKYO, Oct. 26, 2026 /CourierPR/ -- Umios Corporation, a leading global seafood and marine-protein company, has announced its acquisition of High Liner Foods Incorporated, a well-known North American frozen seafood brand. The deal, valued at approximately CAD804 million, will see High Liner Foods shareholders receive CAD27.00 per share in cash.
Umios, with annual net sales of approximately ¥1.1 trillion and operations spanning Japan, North America, Europe, and Asia-Oceania, has long held significant access to Alaska pollock resources, including about 26% of the Bering Sea resources. This acquisition will connect Umios' upstream marine resources with High Liner Foods' established North American value-added processing and distribution platform, creating a vertically integrated global protein leader.
High Liner Foods, founded in 1899 in Lunenburg, Nova Scotia, has grown over more than 125 years from its roots in the Atlantic Canadian fishing industry. The company now holds a leading position in the North American value-added frozen seafood market, supported by extensive processing and distribution infrastructure. In 2025, High Liner Foods acquired Mrs. Paul's and Van de Kamp's, further strengthening its brand portfolio in the U.S.
The acquisition is subject to approval by 75% of the votes cast by High Liner Foods shareholders, as well as clearance under the Competition Act (Canada) and the U.S. Hart-Scott-Rodino Act. Shareholders holding approximately 45.4% of High Liner Foods' outstanding shares, including Thornridge Holdings Limited, and each director and officer of High Liner Foods, have entered into voting support agreements. Umios will fund the transaction mainly through interest-bearing debt and cash on hand.
Following the closing, Umios intends to position High Liner Foods as its core North American platform, supported by the experience and capabilities of its management team and employees. High Liner Foods will remain headquartered in Nova Scotia, and Umios will continue investing in High Liner Foods' processing capabilities, innovation, and growth initiatives to enhance the value proposition for its customers.
The transaction is expected to be completed in January 2027, during the fourth quarter of Umios' fiscal year. Umios will host a press conference for members of the media in Tokyo on October 27, 2026, at 10:30 a.m. JST, to discuss the transaction.