High Liner Foods, the Canadian seafood processor, has entered into a definitive arrangement agreement to be acquired by Umios, the Japanese seafood and marine-protein company, for C$27.00 ($19.29) per share in cash.
The transaction values High Liner Foods at approximately C$804 million ($575 million) on a fully diluted equity basis and C$1.25 billion ($892.38 million) on an enterprise value basis. The offer represents a premium of roughly 79% to the company’s closing share price on October 23, 2026. Following completion, High Liner Foods will anchor Umios’s North American growth platform, with its headquarters remaining in Nova Scotia.
“Umios’ offer recognizes the value of High Liner Foods’ business and its future potential, delivering a substantial premium and certainty of cash value to our shareholders”, said Robert Pace, chair of the board at High Liner Foods.
The deal has received unanimous recommendation from High Liner Foods’ Board of Directors. Furthermore, Thornridge Holdings Limited, holding approximately 41.4% of the outstanding shares, has entered into a voting and support agreement in favour of the transaction. Subject to shareholder approval, court clearance and regulatory approvals, the acquisition is expected to close in the first quarter of 2027.
