High Liner buying Mrs. Paul's and Van de Kamp's brands from Conagra for US$55-million
Frozen seafood company High Liner Foods Inc. HLF-T has signed a deal to buy the Mrs. Paul's and Van de Kamp's brands of frozen breaded and battered fish from Conagra Brands Inc. CAG-N for US$55-million in cash.
High Liner Foods currently co-manufactures products for Mrs. Paul's and Van de Kamp's brands at its U.S.-based operations.
High Liner chief executive Paul Jewer called it a strategic and compelling opportunity that will help further growth in the U.S retail market.
The deal is expected to close at the end of the month, subject to customary closing conditions.
In addition to its namesake brand, High Liner sells under several brands in the U.S. and Canada including Fisher Boy, Mirabel, Sea Cuisine, and Catch of the Day in addition to the Mirabel, Icelandic Seafood and FPI labels for restaurants and institutions.
It is also a major supplier of private label seafood products to retailers and food service distributors.
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