Canadian foods company Premium Brands has signed an agreement to acquire Canadian fresh and frozen seafood supplier Allseas Fisheries.

Premium Brands has also snapped up Canadian value-added food processor Global Gourmet Foods for a combined total of CAD139 million (€89.1 million/$106.4 million).

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Allseas supplies fresh and frozen seafood to retail, foodservice and wholesale customers in Ontario, Canada.

"Allseas will further strengthen our national seafood platform and help position us as Ontario's leading seafood distributor," said Premium Brands President and CEO George Paleologou.