Canada's High Liner Foods on Tuesday said it has acquired theprincipal assets and operations of American Pride Seafoods from Seattle-basedAmerican Seafoods Group.
High Liner Foods paid $34.5 million (€25.5 million) in cash proceeds,subject to closing working capital adjustments, to acquire American Pride'stangible assets, which principally include inventory, plant and equipmentlocated in New Bedford, Massachusetts, and excludes accounts receivables ofapproximately $15.5 million (€11.5 million), for a total enterprise value ofapproximately $50 million (€37 million).
As part of the transaction, High Liner assumed certain operating leasesrelated to the acquired businesses.
