Japan’s Umios to Acquire High Liner Foods
Umios acquisition of High Liner Foods pays C$27 per share, valuing the seafood processor at about C$804 million and a 79% premium to its recent price.
High Liner Foods, a North American frozen seafood processor, has signed a definitive agreement to be bought by Japan’s Umios Corporation for C$27.00 per share in cash.
The all-cash deal values the Lunenburg, Nova Scotia-based company at roughly C$804 million on a fully diluted equity basis and C$1.25 billion on an enterprise basis, a premium of about 79 percent to the closing price on the Toronto Stock Exchange on Oct. 23.
The transaction is fully financed, has unanimous board support and is slated to close in the first quarter of 2027, pending approval from 75 percent of shareholders at a special meeting expected in December and required court and regulatory clearances.
Shareholders holding about 45.4 percent of the shares, including 41.4 percent owned by Thornridge Holdings, have agreed to vote in favor of the merger.
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High Liner supplies major U.S. grocery chains under its own labels—High Liner, Sea Cuisine, Mrs. Paul’s, Van de Kamp’s, Fisher Boy and C. Wirthy, and provides private-label value-added seafood to foodservice distributors across North America.
Umios said it will keep High Liner’s workforce, operations, brands and customer relationships intact, retain the Nova Scotia headquarters and support the existing management team while investing in processing, innovation and growth.
Umios, which rebranded from Maruha Nichiro on March 1, 2026, reports annual net sales of around C$10 billion. They plan to maintain High Liner’s current business structure and continue to operate under the same brand names.
