Seafood company invests US$230.6 million in facilities
By Food in Canada staff
Business Operations Exporting & Importing Seafood acquisition processing facilitiesHigh Liner acquires Asian and U.S. processing plants and seafood brands
Lunenburg, N.S. – High Liner Foods Inc. is acquiring Icelandic Group’s U.S. and Asian processing facilities for US$230.6 million.
The agreement includes an Icelandic USA facility in Newport News, Va., and subsidiaries operating a processing plant in China.
The Lunenburg-based seafood processor will also acquire several brands from Icelandic Seafood, and has signed a seven-year licensing agreement to use the Icelandic brand in North America.
“We are very pleased to have reached this agreement, which will make High Liner Foods the leading value-added seafood supplier in North America,” says High Liner president and CEO Henry Demone. “The combination provides High Liner with a more efficient supply chain with stronger product development capabilities.”
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