HF Foods Expands into Canada with $35M Acquisition of Searay Foods
HF Foods Group Inc., a distributor of international foodservice solutions to Asian restaurants and other businesses across the United States, has entered into a definitive agreement to acquire Searay Foods Inc., including Morgan Foods Inc. and Searay Foods USA Inc. for approximately CAD$47.9 million (about US$35 million based on current exchange rates).
Announced July 23, the acquisition marks HF Foods' first expansion outside the United States and its entry into the Canadian market.
British Columbia-based Searay is an importer and distributor of ethnic...
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