A Lunenburg-based seafood company is expanding its portfolio. High Liner Foods has acquired the east coast processing operations of American Seafoods Group. The company shelled out US$34.5-million for the New Bedford, Massachusetts whitefish and scallop processing plant American Pride Seafoods. American Pride distributes frozen products to restaurants, health care and education markets in the U.S. High Liner says in a release, it will delay integrating American Pride into its U.S. operations to allow them to realize benefits from its 2011 acquisition of Icelandic USA. High Liner expects most of the cost-savings from acquiring American Pride won't be realized until 2015.
Tuesday, October 1, 2013
High Liner Acquires American Pride Seafoods
A Lunenburg-based seafood company is expanding its portfolio. High Liner Foods has acquired the east coast processing operations of American Seafoods Group. The company shelled out US$34.5-million for the New Bedford, Massachusetts whitefish and scallop processing plant American Pride Seafoods. American Pride distributes frozen products to restaurants, health care and education markets in the U.S. High Liner says in a release, it will delay integrating American Pride into its U.S. operations to allow them to realize benefits from its 2011 acquisition of Icelandic USA. High Liner expects most of the cost-savings from acquiring American Pride won't be realized until 2015.
