Frozen seafood processorHigh Liner Foods Incorporated, Lunenburg, NS, said it agreed to purchase an undisclosed "value-added foodservices company based in North America with annual revenues of approximately CDN$40 million."

Officials said they expect to close the transaction before December 31, 2010, subject to High Liner's completion of its due diligence process, final board approval and finalization of a formal purchase agreement.  

High Liner Foods is a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner, Fisher Boy, Mirabel and Sea Cuisine labels, and are available in most grocery and club stores. The Company also sells its High Liner, FPI and Mirabel foodservice products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors.