HF Foods completes acquisition of Searay Foods for CAD 47.9 million
HFFG•Integration and management
Searay will operate as a subsidiary, led day-to-day by its existing management team under incoming CEO Derick Ngan.
HF Foods completes acquisition of Searay Foods
HF Foods completed the acquisition of Canada-based Searay Foods, an importer and distributor of ethnic and specialty frozen seafood.
The deal was valued at about CAD 47.9 million, paid with CAD 38.4 million cash and 1,700,000 HF Foods shares priced at USD 4 per share.
The purchase price implies about 5x Searay’s 2025 adjusted EBITDA, with additional contingent consideration tied to future performance.
The transaction establishes a Canadian platform and expands HF Foods’ exposure to specialty frozen seafood.
