High Liner Foods Negotiating with Icelandic Group

High Liner Foods is still in talks to complete a deal to secure Icelandic Group's assets but where those negotiations are headed is anyone's guess. High Liner was the successful bidder in a global auction last month to acquire Icelandic's US and Chinese processing and marketing assets. The company has been in exclusive talks with Icelandic ever since. The potential deal would make the Lunenburg based company the continent's biggest marketer of frozen value-added seafood products. However during a conference call last week, High Liner President and CEO Henry Demone gave no assurances that a deal would be finalized any time soon. Should High Liner succeed with the acquisition, it would double its U.S. business. The company had sales last year of $585 million with about half of that total from the United States. Canada's largest seafood processor has its head office in Lunenburg and is a major producer of shrimp, salmon and cod. It employs more than 1,000 people.