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HF Foods completes CAD$47.9M (US$35M) acquisition of Searay Foods, first Canada expansion
Acquired 100% of Searay Foods for ~CAD$47.9M (US$35.0M), ~5.0x 2025 Adjusted EBITDA of CAD$9.56M.
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HF Foods Q2 revenue up 2.8% to $323.8M; acquires Searay Foods
Net revenue $323.8M (+2.8% YoY); GAAP net income $2.6M vs $0.5M prior; adjusted EPS $0.12.
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HF Foods amends credit facility: revolver to $140M, term loans to $125M, maturities extended to 2031/2036
Revolving commitments increased from $125M to $140M; term loans refinanced from ~$90.3M to $125M via $40.1M additional advance.
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HF Foods Group to acquire Searay Foods for CAD$47.9M (US$35M), first international expansion
Total consideration CAD$47.9M (~US$35M), ~5.0x Searay's 2025 Adjusted EBITDA of CAD$9.6M.
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HF Foods adopts shareholder rights plan with 15% trigger, expires June 2027
Board declares dividend of one Right per share of common stock; record date June 22, 2026.
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HF Foods adopts poison pill with 15% trigger after detecting undisclosed stock accumulation
One Right per share distributed to holders of record June 22, 2026; exercisable if a party reaches 15% beneficial ownership without board approval.
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HF Foods Q1 2026 revenue up 4.5% to $312M; GAAP net income $1.4M, up 188.6% YoY
Net revenue $312.0M (+4.5% YoY); GAAP net income $1.4M vs. loss of $1.5M prior year.
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HF Foods 2025 revenue $1.23B (+2.2%), adj. EBITDA $45M (+6.9%), GAAP net loss $39.3M
Full-year net revenue $1,228.3M, up 2.2% YoY; gross profit $207.6M, margin 16.9% vs 17.1%.
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HF Foods Group appoints Paul McGarry as CFO and Jeffery Taylor as Compensation Committee Chair
Paul McGarry appointed CFO effective Jan 27, 2026, with annual base salary increased to $375,000 and bonus target of 60% of salary.
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HF Foods reports Q3 revenue up 2.9% to $307M; net loss narrows 77% to $0.9M
Net revenue $307.0M (+2.9% YoY) on volume/pricing gains in Meat & Poultry and Seafood.
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HF Foods Q1 2025 revenue up 0.9% to $298.4M; net loss widens to $1.5M on swap changes
Net revenue $298.4M (+0.9% YoY); gross profit $51.0M (+1.1%), gross margin unchanged at 17.1%.
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HF Foods reports Q4 2024 net loss of $43.9M on goodwill impairment; revenue up 8.7%
Q4 net revenue $305.3M, +8.7% YoY; FY2024 revenue $1,201.7M, +4.6% YoY.
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HF Foods Q3 revenue up 6.0% to $298.4M; net loss of $3.8M vs prior year net income of $2.0M
Gross profit margin fell to 16.8% from 18.1%; gross profit down 1.5% to $50.2M.
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HF Foods terminates CEO Peter Zhang; names Felix Lin as interim CEO
Peter Zhang terminated as CEO without cause effective Oct 24, 2024; remains on Board.
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HF Foods posts Q2 net income of $0.2M vs loss; revenue up 3.4% to $302.3M
Net revenue $302.3M, up 3.4% YoY; gross profit margin 17.4% vs 17.3%.
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HF Foods settles SEC probe for $3.9M; former execs barred from company
Company consented to cease-and-desist order without admitting or denying findings from false disclosures by former Chairman/CEO Zhou Min Ni and former CFO Jian Ming Ni.
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HF Foods finalizes CFO Carlos Rodriguez's separation with $400K severance and bonus
Severance: 1x base salary ($400,000) in three installments, plus a lump-sum bonus of 70% of base ($280,000).
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HF Foods shareholders elect only one director; two incumbents fail to win re-election
Xiao Mou Zhang elected to board with 21.3M votes for; Hong Wang and Prudence Kuai each lost with more against votes.
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HF Foods directors Valerie Chase and Russell Libby resign effective May 31, 2024; search for replacements underway
Valerie P. Chase (board member) and Chairman Russell T. Libby resigned effective immediately on May 31, 2024.
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HF Foods reports Q1 record revenue $295.7M; net loss narrows to $0.6M; adjusted EBITDA up 51% to $8.7M
Net revenue $295.7M, up 0.6% YoY; record Q1 revenue despite $2.7M loss from chicken processing exit.
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HF Foods appoints Cindy Yao as permanent CFO effective May 1, 2024
Cindy Yao named CFO; succeeds interim CFO Felix Lin, who remains President & COO.
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CFO Carlos Rodriguez departs; poison pill extended to April 2025
Carlos Rodriguez left as CFO effective April 8, 2024; no disagreement with company policies.
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HF Foods Q4 revenue down 3.8% to $280.9M; adjusted EBITDA up 372.6% to $20.4M
Q4 net revenue $280.9M (down 3.8% YoY); gross margin expanded to 18.6% from 17.4%.
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HF Foods appoints Lin as President and interim CFO; CFO Rodriguez on leave
Felix Lin appointed President and COO, effective Feb 12; base salary raised to $495,000.
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HF Foods Q3 net income $2.0M, adj. EBITDA up 151%; reveals transformation plan
Q3 net revenue $281.5M (-6.4% YoY); gross margin improved to 18.1% from 17.1%.
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HF Foods Q2 net loss of $1.6M; revenue down 2.4%; highlights cost reduction
Q2 net loss of $1.6M vs net income of $4.5M a year ago; revenue fell 2.4% to $292.3M.
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HF Foods regains Nasdaq compliance after annual meeting; director Libby faces 36% opposition
Regained Nasdaq compliance after holding combined 2022-2023 annual meeting on June 1, 2023.