Japanese Seafood Giant Umios to Acquire Nova Scotia's High Liner Foods in $804 Million Deal
High Liner Foods, a Nova Scotia-based seafood company founded in 1899, has agreed to be acquired by Japanese firm Umios for $804 million. The deal requires shareholder and regulatory approval and is expected to close in early 2027. Union representatives at the Lunenburg plant have raised concerns about job security, though the company's CEO says operations across North America will be maintained.
High Liner Foods, a Nova Scotia-based seafood company, has entered into an agreement to be acquired by Japanese seafood giant Umios in a deal valued at $804 million. Workers at the company’s Lunenburg plant were informed of the acquisition on Monday.
Founded in Lunenburg in 1899, High Liner employs between 300 and 400 people in Atlantic Canada, mostly in Lunenburg, and has 1,300 employees across North America. Unifor Local 1944 represents around 300 of the plant’s workers. Amanda Wentzell serves as the vice-president of the local union, while Trevor Banfield is its president. Paul Jewer is the president and chief executive officer of High Liner.
Union representatives and workers have expressed concerns regarding job security, pensions, and the long-term vision under new ownership. The union hopes to keep jobs in Lunenburg and has contacted its national office to help transfer the union once Umios takes control. About 60 per cent of Umios employees belong to some form of union, and the union remains in place during the transition. A company meeting with union members is scheduled for Nov. 10.
Jewer stated that Umios has committed to maintaining operations across North America, including Lunenburg, and indicated there would be little change for employees, suppliers, customers, and consumers.
The acquisition requires approval from 75 per cent of High Liner shareholders as well as regulatory approvals. The deal is expected to be finalized in early 2027.