Trident Seafoods has struck a deal to sell another asset, with Pacific Seafood set to buy its Kodiak processing facility in Alaska.
In December last year, Trident Seafoods announced a restructuring plan that included the sale of four processing plants in Alaska.
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Trident Seafoods sold its Petersburg plant to E.C. Phillips & Son in March. In June, Silver Bay Seafoods acquired a Trident Seafoods facility in False Pass specialising in salmon processing.
The Kodiak site engages in the processing of a varied assortment of seafood, encompassing halibut, flatfish, rockfish, crab, herring, pollock, salmon and Pacific cod.
The deal is in the due diligence phase but the companies expect the deal to be finalised next month.
Trident Seafoods CEO Joe Bundrant said: “Our top priority is to reassure employees and the fleet that this is a handoff, not a shutdown.
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By GlobalData“We are committed to a smooth transition with Pacific Seafood, so they are well prepared to operate for the 2025 A season.”
Pacific Seafood has operations in Kodiak. Its enlarged operations in the region will be led by processing vice president Ashton Meier.
Frank Dulcich, Pacific Seafood’s president and CEO, said: “We are excited about this opportunity to expand our Kodiak operations and leverage our diverse national and international distribution channels to provide even more opportunities for Kodiak team members and the fleet.”
In September, amid the asset sales, Trident Seafoods reinforced its leadership team with several executive appointments, including the creation of a COO position, now filled by former Microsoft executive Mike Quinn.
Additionally, the company promoted two of its long-standing employees, Jeff Welbourn and Kenji Nasu, to president of the US business and president of the Alaskan unit, respectively.
