{"id":984193,"date":"2026-07-23T13:23:28","date_gmt":"2026-07-23T17:23:28","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hf-foods-group-to-acquire-searay-foods-a-highly-attractive-canadian-importer-and-distributor-of-ethnic-and-specialty-seafood-products-marking-the-companys-first-international-expansion\/"},"modified":"2026-07-23T13:23:28","modified_gmt":"2026-07-23T17:23:28","slug":"hf-foods-group-to-acquire-searay-foods-a-highly-attractive-canadian-importer-and-distributor-of-ethnic-and-specialty-seafood-products-marking-the-companys-first-international-expansion","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hf-foods-group-to-acquire-searay-foods-a-highly-attractive-canadian-importer-and-distributor-of-ethnic-and-specialty-seafood-products-marking-the-companys-first-international-expansion\/","title":{"rendered":"HF Foods Group to Acquire Searay Foods, a Highly Attractive Canadian Importer and Distributor of Ethnic and Specialty Seafood Products, Marking the Company’s First International Expansion"},"content":{"rendered":"
\n

\n Strategic entry into Canada through the Vancouver metro market, one of North America’s premier specialty Asian foods markets with deep multicultural ties<\/em>\n <\/p>\n

\n Reinforces HF Foods’ positioning as the acquiror of choice, extending its proven M&A playbook into new geographies<\/em>\n <\/p>\n

\n Transaction valued at approximately 5.0x Searay’s 2025P Adjusted EBITDA and is expected to be immediately accretive to Margins and EPS<\/em>\n <\/p>\n

\n Consideration to be funded through a combination of cash and HF Foods common stock<\/em>\n <\/p>\n

\n HF Foods’ reaffirms previously communicated target of expanding consolidated Adjusted EBITDA margin to 4.5%-5.0%+ over the next three to five years<\/em>\n <\/p>\n

LAS VEGAS, July 23, 2026 (GLOBE NEWSWIRE) — HF Foods Group Inc. (NASDAQ: HFFG) (\u201cHF Foods\u201d or the \u201cCompany\u201d), a leading distributor of international foodservice solutions to Asian restaurants and other businesses across the United States, today announced that it has entered into a definitive agreement to acquire Searay Foods Inc. and its related entities (\u201cSearay\u201d), a leading Canadian importer and distributor of ethnic and specialty frozen seafood, headquartered in Richmond, British Columbia. The transaction represents HF Foods\u2019 first expansion outside the United States and is expected to close in Q3 2026, subject to customary closing conditions and regulatory approvals.<\/p>\n

Under the terms of the agreement, HF Foods will acquire up to 100% of the outstanding equity interests of Searay for total consideration of approximately CAD$47.9 million (approximately US$35 million), representing approximately 5.0x Searay’s 2025 Adjusted EBITDA of approximately CAD$9.6 million. Consideration will be funded through a combination of cash on hand and shares of HF Foods common stock, with final terms to be disclosed upon closing.<\/p>\n

\n Management Commentary<\/strong>\n <\/p>\n

\u201cThe acquisition of Searay is a pivotal milestone in HF Foods\u2019 growth journey and the first step in our long-stated strategy to expand our platform beyond the United States,\u201d said Felix Lin, President and Chief Executive Officer of HF Foods. \u201cSearay has built an exceptional reputation over 25 years as a leading Canadian distributor of ethnic frozen seafood, with deep supplier relationships, a trusted multi-brand portfolio, and industry-leading margins. This transaction is consistent with the disciplined, accretive M&A strategy we have communicated to investors, and we are excited to combine Searay\u2019s expertise in frozen seafood with HF Foods\u2019 national distribution infrastructure to unlock meaningful cross-selling and supply chain synergies across both businesses.\u201d<\/p>\n

\u201cWe are proud of what we have built at Searay over the past 25 years, and we believe HF Foods is the right partner to carry that legacy forward,\u201d said Jack and Philip Chan, Co-Presidents and founders of Searay. \u201cHF Foods\u2019 scale, distribution network, and shared commitment to quality and customer service make this a natural combination. We look forward to working alongside the HF Foods team to accelerate Searay\u2019s growth, including our ongoing expansion into the U.S. market.\u201d<\/p>\n

\n Strategic Rationale<\/strong>\n <\/p>\n