Silver Bay processes salmon for US and export markets

Silver Bay processes salmon for US and export markets

US canned tuna group Starkist and its parent, South Korean conglomerate Dongwon Group, have jointly invested in Sliver Bay Seafoods, an Alaska-based salmon processor.

Starkist and Dongwon F&B, the South Korean group's food and beverage arm, will own 12.5% of Silver Bay in a deal worth US$20m.

In a stock exchange statement, Dongwon cited Silver Bay's "processing technology and know-how".

According to the Silver Bay website, the company, founded in 2007, had five processing sites located across Alaska and the West Coast. It processes frozen, headed and gutted salmon for domestic and export markets.

Dongwon acquired StarKist from Del Monte Foods in a $363m deal in 2008.