High Liner Foods Acquires Mrs. Paul’s, Van De Kamp’s For US$55M

LUNENBURG — High Liner Foods, a frozen seafood company, acquires Mrs. Paul’s and Van de Kamp’s brands of frozen breaded and battered fish products from Conagra Brands for US$55 million, inclusive of approximately US$36 million in inventory.

“This is a highly strategic and compelling opportunity for High Liner Foods that will serve as a catalyst for further growth in the U.S retail market,” said Paul Jewer, president and CEO of High Liner Foods. “By taking full ownership of these well established and respected brands, we will capture additional value for our shareholders and ensure a seamless transition for existing customers. We look forward to offering choice and value to an expanded portfolio of customers and consumers in the growing U.S market.”

High Liner Foods currently co-manufactures products for Mrs. Paul’s and Van de Kamp’s brands at its U.S.-based manufacturing facilities, an average of 25 million pounds annually. The transaction secures the volume associated with the company’s current contract with Conagra which is due to expire in 2027. It is anticipated to increase High Liner Foods’ annual volume from this business to a total of approximately 29 million pounds of fish procured, processed and sold in the U.S.

The company will fund the transaction from its existing ABL facility. The transaction is expected to close at the end of June 2025.

“This strategic transaction is one example of the steps we are taking to position High Liner Foods for future growth, leveraging our healthy balance sheet today to secure profitable volume and incremental growth for years to come,” Jewer said.