High Liner Foods Finalizes Icelandic Acquisition


LUNENBURG, N.S. — It’s official — High Liner Foods Incorporated has completed its acquisition of Icelandic Group’s U.S. and Asian operations, a deal that was announced in late November.

“We are very pleased to have completed this acquisition, as it represents an important element of High Liner Foods’s growth strategy. This acquisition positions High Liner as the leading value-added seafood supplier in North America and adds incremental value to our shareholders,” said Henry Demone, president and CEO of High Liner Foods.

The original purchase price of US$230 million was adjusted to US$232.7 million, including closing adjustments. The deal includes Icelandic U.S.A’s processing plant in Newport News, Va., as well as a subsidiary that owns a processing plant and seafood procurement operations in China.

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