“Our vision is to become the leading value-added frozen seafood company in North America,” said Henry Demone, president and CEO of High Liner, a Lunenburg, N.S.-based processor and marketer of seafood. “A key component of High Liner’s overall growth strategy is to acquire complementary businesses that will strengthen our market leadership position. This deal fits perfectly within that plan. Viking is well established in many key market segments and known for offering its customers quality and value.”
Viking brand products are distributed nationally in the U.S. to customers in the health care, education and commercial and independent restaurant markets. In 2010, Viking had net sales of approximately $40 million.
The $31.5-million transaction is expected to close within the next week.