High Liner Foods Inc., the leading value-added frozen seafood company in North America has acquired the assets and operations of American Pride Seafoods LLC in a deal worth an approximate $50 million. High Liner Foods paid $34.5 million in cash for American Pride’s inventory, plant and equipment located in New Bedford, Massachusetts and will assume accounts receivable of approximately $15.5 million. American Pride had $190 million in revenues in 2012 with branded and private label products primarily distributed in the U.S. to the foodservice, commercial, restaurant, health care, and education markets, along with some U.S. export and retail sales. High Liner Foods plans to delay the integration of this acquisition and will operate American Pride without change through 2014.
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