High Liner Foods Inc. Expands U.S. Presence with Acquisition of Mrs. Paul’s and Van de Kamp’s
In a strategic move to bolster its presence in the U.S. market, High Liner Foods Inc., a leading North American processor and marketer of prepared, value-added frozen seafood, has acquired the well-known seafood brands Mrs. Paul’s and Van de Kamp’s from Conagra Brands, Inc. for $55 million. This acquisition, announced on June 6, 2025, marks a significant expansion for High Liner Foods, which is listed on the Toronto Stock Exchange and operates primarily in the Consumer Staples sector.
The acquisition of these iconic brands, known for their breaded and battered seafood products, is expected to enhance High Liner Foods’ product portfolio and market reach. The transaction is anticipated to bring incremental volume, margin, synergies, and growth opportunities, with an estimated delivery of USD $11 million in annual run rate Adjusted EBITDA from 2027. This includes contributions from current contract margins, incremental contribution margins, and net cost synergies.
The deal aligns with Conagra Brands’ efforts to reshape its portfolio, as the company seeks to divest non-core assets and focus on its strategic priorities. The transaction is expected to close by July 2025, providing Conagra with additional resources to reduce debt and streamline operations.
In the wake of the acquisition announcement, trading in High Liner Foods’ shares was temporarily halted by the Canadian Investment Regulatory Organization (CIRO) due to pending news. The halt was implemented at 8:00 AM ET on June 6, 2025, and trading resumed at 9:00 AM ET later that day. This temporary suspension is a standard procedure to ensure orderly trading and dissemination of information.
As of June 4, 2025, High Liner Foods’ shares were trading at CAD 17.25, with a 52-week high of CAD 18.28 and a low of CAD 12.25. The company boasts a market capitalization of approximately CAD 529.71 million and a price-to-earnings ratio of 6.94.
This acquisition is a strategic step for High Liner Foods as it continues to strengthen its position in the competitive seafood industry, offering a broader range of products to grocers, club stores, restaurants, and institutions across the United States, Canada, and Mexico.