Silver Bay Seafoods has reached a deal to acquire OBI Seafoods, expanding its processing capacity in the U.S. state of Alaska.
Silver Bay is acquiring Icicle Seafoods’ stake in OBI and will partner with the Bristol Bay Economic Development Corporation (BBEDC) in a move the company said will “increase stability for Alaskan fishermen and communities reliant on seafood processing operations.”
The purchase includes OBI’s Alaska-based processing facilities in Petersburg, Seward, Larsen Bay, Egegik, Wood River, Cordova, Kodiak, and Naknek, along with the Kent Warehouse and Labeling facility in the U.S. state of Washington.
OBI Seafoods was 50-percent owned by Ocean Beauty Seafoods and 50-percent owned by Icicle Seafood – which is itself a subsidiary of Cooke. OBI was created in 2020 by a merger between Ocean Beauty and Icicle Seafood, creating a joint ownership model between Icicle Seafoods and BBEDC, which owned Ocean Beauty Seafoods.
“With the many challenges facing Alaska’s seafood industry, BBEDC recognizes the importance of strategic partnerships to support Alaska’s regional fishing economies,” BBEDC CEO Michael Link said in a press release. “We are pleased to partner with another strong Alaskan company to achieve the efficiencies this industry needs to remain competitive in a global economy.”
Silver Bay and BBEDC said the purchase will create ...
