Nova Scotia-based seafood company High Liner Foods has agreed to be acquired by Japanese seafood group Umios Corporation in a deal valued at approximately C$1.25 billion, including debt.

Announced on October 26, 2026, the proposed transaction offers shareholders C$27 per share in cash. According to the company, this represents a premium of approximately 79% over its October 23 closing share price on the Toronto Stock Exchange.

High Liner Foods’ board of directors has unanimously recommended that shareholders approve the deal. The company said the agreement followed a competitive sale process and that the offer is fully financed, subject to the agreement’s conditions.

If completed, High Liner Foods would become the core platform for Umios’ North American business. The Japanese company aims to combine its global sourcing capabilities with High Liner’s seafood processing expertise, established brands and customer relationships.

High Liner Foods’ headquarters will remain in Nova Scotia, and Umios has committed to maintaining the company’s workforce, operations and brands under the proposed arrangement.

The transaction is expected to be considered at a special shareholder meeting anticipated in December 2026. It remains subject to shareholder approval, court approval, applicable regulatory clearances and other customary closing conditions.

The proposed acquisition represents a major development for Canada’s seafood processing industry and could strengthen the international reach of a long-established Atlantic Canadian food company. The deal’s final impact will depend on completion and the integration plans that follow.