By SeafoodSource staff
Published on 23 May, 2013
An Alaskan nonprofit community development quota corporation has bought a Seattle-based seafood processing and marketing company.
The Aleutian Pribilof Island Community Development Association (APICDA)’s board of directors voted on 17 May to buy Cannon Fish Company. The acquisition is expected to close July 1 of this year.
APICDA owns all or part of nearly two dozen commercial fishing vessels, two processing plants, and several sport fish and hunting lodges in Alaska, and works to support local economies through the seafood industry.
“The acquisition of Cannon Fish Company is an important step toward achieving APICDA’s purpose of developing stable local economies in each of our six member communities,” said Larry Cotter, APICDA’s CEO. “We will now be able to manage all aspects of our seafood operations from the boat to the table.“
Cannon president Pete Cannon said he has always wanted to expand the company’s operations into Alaska, and he wanted to be associated with APICDA’s mission.
“I’m very excited to be associated with an Alaska company, particularly a group like APICDA,” he said. “Their mission to develop stable economies in their villages is really moving and something we are proud to assist.”
Cannon and the company’s employees are expected to remain in place.