Mergers & Acquisitions ·
HF Foods completes CAD$47.9M acquisition of Searay and Morgan Foods, expanding into Canadian seafood distribution
HFFGHF Foods Group Inc.
HF Foods Group Inc. completed the acquisition of Searay Foods Inc. and Morgan Foods Inc. on August 31, 2026, for an aggregate base purchase price of CAD$47,921,740 (approximately USD$35 million). The consideration consisted of CAD$38,365,392 in cash and the issuance of 1,701,871 shares of HF Foods common stock priced at USD$4.00 per share. The transaction includes contingent earnout payments based on EBITDA targets over a two- to three-year period. This acquisition marks HF Foods' first international expansion into Canada, adding specialty frozen seafood distribution capabilities. HF Foods Group Inc. is a leading distributor of international foodservice solutions to Asian restaurants and other businesses across the United States and Canada.