HF Foods agrees to buy Canada’s Searay Foods for CAD 47.9 million
HFFG•HF Foods to acquire Searay Foods
HF Foods agreed to buy up to 100% of Canada-based Searay Foods, expanding outside the US for the first time.
The total consideration is about CAD 47.9 million, implying roughly 5x 2025 adjusted EBITDA of about CAD 9.6 million.
Payment will use a mix of cash and HF Foods common stock, with the final split to be set at closing.
The deal is expected to close in Q3 2026, subject to customary closing conditions and regulatory approvals.
Searay’s management team, led by incoming CEO Derick Ngan, is expected to continue running day-to-day operations after the deal closes.
