Tokyo-listed Umios Corporation agreed to buy Canadian seafood maker High Liner Foods Incorporated for C$27 per share in cash, a move Umios says would expand its North American processing and distribution capabilities.
At the offered price, High Liner’s fully diluted equity is valued at about C$804 million. The transaction’s enterprise value is C$1.25 billion, and the offer is 79% above High Liner’s Oct. 23 closing price.
Umios already supplies seafood to High Liner. The Japanese company said the acquisition would strengthen its ability to process and sell finished seafood products to North American retailers and food-service customers.
The agreement commits Umios to maintaining High Liner’s workforce and operations, High Liner said. Separately, Umios has said it intends to keep the company’s headquarters in Nova Scotia.
High Liner’s board unanimously recommends that shareholders approve the deal. Thornridge Holdings Limited, which owns about 41.4% of High Liner’s shares, has agreed to support it. Including directors and officers, holders of about 45.4% of outstanding shares have agreed to vote in favor.
The transaction requires approval by 75% of votes cast at a shareholder meeting expected in December 2026, as well as court and regulatory approval. Umios’s filing gives January 2027 as its expected closing target; High Liner’s announcement gives the broader first quarter of 2027.
