content_image/214568.jpg content_image/214567.jpg
The goodwill of $5.0 million comprises the fair value of expected synergies arising from the acquisition of Viking. 

Goodwill and intangible assets are allocated entirely to the U.S. segment. The amounts recognized are expected to be deductible for income tax purposes. 

During the 52 weeks ended December 31, 2011, Viking has contributed $37.5 million in net sales and $3.4 million to income before interest and taxes of the Company (January 1, 2011: $1.7 million of revenue and $0.1 million in income before interest and taxes). 

## Acquisition of Icelandic Group’s U.S. Subsidiary and Asian Procurement Operations (The Icelandic USA Acquisition) 

On December 19, 2011, the Company acquired Icelandic Group h.f.’s U.S. subsidiary, Icelandic USA and its Asian procurement operations. The Acquisition gives High Liner ownership of one of the largest suppliers of high-quality frozen value-added seafood to the U.S. food service market. The seafood product lines acquired include battered and breaded products as well as a full line of premium fillets. The Acquisition includes a modern processing plant in Newport News, Virginia, as well as subsidiaries that operate a processing plant in China and procure product from other Asian countries. High Liner acquired several brands in connection with the acquisition. In addition, High Liner entered into a seven-year royalty-free licensing agreement with Icelandic Group for the use of the Icelandic ®  Seafood brand in the United States, Canada and Mexico. High Liner has also structured a long-term distribution agreement with Icelandic Group to ensure that High Liner can continue to procure fillets from producers in Iceland to be sold in the U.S. market. The Acquisition is expected to be a good fit with the Company’s existing U.S. operations as it will allow the Company to address a larger consolidated customer base through stronger purchasing power. The Acquisition also provides the Company a more efficient supply chain with stronger product development capabilities. 

The fair value of the identifiable assets and liabilities of the Acquisition as at the date of acquisition were: 

<img src='content_image/214568.jpg'>

The amounts in the table below differ slightly from what was previously announced, due to final adjustments for working capital and cash balances: 

<img src='content_image/214567.jpg'>

