High Liner Foods (HLF) was up ~10% on Friday after announcing the $55M acquisition of two leading battered seafood brands from Conagra Brands. By 2027, the deal should add $11M in EBITDA (+11%) and 29M pounds of sales volume (+12%).

Strategically, the deal secures existing contract manufacturing work HLF had with the two brands, and unlocks incremental sales opportunities through new distribution and client relationships.