HF Foods Group Inc. (NasdaqCM:HFFG) entered into an agreement to acquire Substantially All of the Assets of Sealand Food, Inc. for $32.5 million on April 19, 2022. HF Foods will acquire the Sealand for cash consideration of $20.0 million plus approximately $12.5 million worth of inventory to be finalized at closing. The transaction is expected to be completed during the second quarter of 2022. Ellenoff Grossman & Schole LLP acted as legal advisor to Sealand and Arnall Golden Gregory, LLP acted as legal advisor to HF Foods.

HF Foods Group Inc. (NasdaqCM:HFFG) completed the acquisition of Substantially All of the Assets of Sealand Food, Inc. for $34.9 million on April 29, 2022. HF Foods paid $20 million in cash at closing, approximately $14.4 million paid for saleable product inventory and or approximately $0.5 million for additional fixed assets. HF Foods financed the Sealand Acquisition through our $100 million line of credit.