HF Foods Group to acquire Searay Foods for CAD$47.9M (US$35M), first international expansion

HF Foods Group Inc.

Total consideration CAD$47.9M (~US$35M), ~5.0x Searay's 2025 Adjusted EBITDA of CAD$9.6M.
Consideration includes cash and 1.7M shares of HFFG common stock; earnout based on EBITDA targets.
Transaction expected to close in Q3 2026, subject to regulatory approvals and customary conditions.
Acquisition expected to be immediately accretive to margins and EPS; HF Foods reaffirms 4.5%-5.0%+ EBITDA margin target.
Searay's management, led by incoming CEO Derick Ngan, to continue operations as a subsidiary.

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