Conagra to Sell Mrs. Paul’s, Van de Kamp’s to High Liner Foods
Canadian frozen seafood company High Liner Foods Inc. has agreed to acquire the Mrs. Paul’s and Van de Kamp’s frozen breaded and battered fish product brands from Conagra Brands for $55 million (inclusive of about $36 million in inventory), according to announcements from both companies.
High Liner currently co-manufactures products for the two brands at its U.S. manufacturing facilities, the company noted, pumping out an average of 25 million pounds of product annually through that agreement. As such, the acquisition includes the aforementioned inventory and intellectual property, but no employees or manufacturing facilities are changing ownership.
Conagra noted that the products included in the deal contributed approximately $75 million to the company’s fiscal year 2024 net sales.
The current co-man contract with Conagra is due to expire in 2027, and the acquisition secures the volume associated with it. Further, High Liner expects its annual volume from this business to increase to about 29 million pounds of fish procured, processed and sold in the U.S.
High Liner president and CEO Paul Jewer called the acquisition “a highly strategic and compelling opportunity for High Liner Foods that will serve as a catalyst for further growth in the U.S retail market.”
Sean Connolly, president and chief executive officer of Conagra, noted that the Van de Kamp’s and Mrs. Paul’s business operates largely as a standalone seafood business within the company, and “this divestiture allows us to further focus our efforts on strengthening our core frozen offerings.”
High Liner’s announcement says the transaction is expected to close at the end of June 2025, subject to customary closing conditions. But Conagra’s release says end of July 2025.
