Frozen-foods major Umios announced that it will acquire High Liner Foods, a major Canadian seafood processor, for approximately ¥89 billion. The acquisition is scheduled to close in January next year, strengthening its processing and sales operations in the North American market.
On the 26th, Umios announced that it will acquire High Liner Foods, a major Canadian seafood processor. The planned acquisition price is approximately ¥89 billion, and the company aims to improve its earnings power in the North American market. The acquisition is scheduled to close in January next year.
High Liner Foods is considered one of the leading sellers of retail and foodservice seafood products in the U.S. and Canadian markets. Umios says the acquisition will allow it to incorporate the needs of North American consumers and customers directly into product development.
By strengthening its North American business, Umios plans to establish a system for processing and selling products such as walleye pollock sourced from its procurement base in Alaska into finished products.
The acquisition is intended to expand Umios's sales base and improve its earnings power in the North American market. The company's specific plans after completion, scheduled for January next year, will be the focus going forward.