Umios Corporation, the Tokyo-listed seafood group, said on 26 October 2026 that it had agreed to acquire High Liner Foods for C$27.00 per share in cash, an equity value of about C$804m (about US$570m).
Why Umios Corporation is buying High Liner Foods Incorporated
Umios said the deal pairs its access to about 26% of Alaska pollock resources in the Bering Sea, as well as cod and crab, with High Liner's value-added processing, brands and distribution to North American foodservice and retail customers. High Liner will become the core of Umios's North American business, extending Umios beyond surimi into pollock fillets and other categories as it targets a place among the world's top ten protein providers.
“Combining with High Liner Foods will fundamentally transform Umios”
Deal terms and financing
The deal will be carried out by a court-approved plan of arrangement under the Nova Scotia Companies Act. High Liner's board, on the unanimous recommendation of a special committee, has approved the deal and recommends shareholders vote in favour. Voting support agreements cover about 45.4% of the shares, including Thornridge Holdings. Umios will fund the purchase mainly with interest-bearing debt and cash on hand. High Liner will keep its headquarters in Nova Scotia.
Regulatory approvals and timing
The arrangement requires approval by 75% of votes cast by High Liner shareholders, approval under the Competition Act (Canada) and clearance under the US Hart-Scott-Rodino Act. Completion is expected in January 2027.
Market context
The Canadian Press reported that Umios, a long-standing supplier to High Liner, approached the company earlier in 2026 and that a special committee weighed offers from Umios and a few other companies.
