North American frozen seafood giant High Liner Foods said it is casting the net wide for acquisition targets after record-high cash flow last year has put it in an improved position to explore the M&A market.

"We are looking at lots, we haven't pulled the trigger on anything but we are confident that we will continue to unearth some good opportunities in the near term," said High Liner CEO Paul Jewer as he took questions from analysts during the company's fourth quarter earnings call on Thursday.