MONTREAL – High Liner Foods Inc. aims to become the North American leader in value-added seafood if it's able to acquire Icelandic Group's U.S. and Asian processing plants, the company's executive vice-president said Friday.
Canada's largest seafood processor and marketer said it's in talks to buy Icelandic's U.S. subsidiary, which had sales of $263 million last year.
If High Liner succeeds in its expansion quest, it would double its U.S. business. The company had 2010 sales of $585 million and about half of that came from the U.S.
"Our vision is to be the leader in value-added seafood in North America," said Kelly Nelson, who also serves as High Liner's chief financial officer and secretary. "So this does take us toward our vision."