Seattle, Wash. and Sitka, Alaska – June 7, 2024 – Trident Seafoods and Silver Bay Seafoods jointly announced that they have reached an agreement for Silver Bay to acquire Trident’s False Pass processing facility and fuel business.
Located in the community of False Pass, a remote southwest Alaska fishing community on Unimak Island located between the tip of the Alaska Peninsula and the Aleutian Islands, Trident’s False Pass operation is dedicated entirely to processing salmon. The facility is located next to Silver Bay’s False Pass processing facility, which opened in 2019.
"The acquisition of the False Pass operations will create efficiencies between the two neighboring processing plants and includes a fuel facility that provides critical fuel services to the community and fishing fleet," said Cora Campbell, President and CEO of Silver Bay Seafoods. "This acquisition will allow us to provide better services and more opportunity to our fishermen."
"We are pleased to close the transaction and bring security to the peninsula salmon fleet in time for the 2024 season," said Joe Bundrant, CEO of Trident Seafoods. "I’m confident that Silver Bay will take great care of the fishermen and communities who depend on the False Pass plant and support services, and we wish them every success."
"We are deeply committed to Alaska’s communities and the seafood sector, and salmon will always be part of who we are. The strategic restructuring decisions have been some of the most difficult of my career. However, focusing our operations is essential so we can continue investing in and modernizing our footprint across Alaska to drive value back into these fisheries," said Bundrant.
Trident and Silver Bay structured the transaction with valuable input from the local community organizations. This was to ensure a smooth transition for all stakeholders, reflecting our shared commitment to the fishing community.
About Trident Seafoods
Trident Seafoods is North America's largest vertically integrated seafood harvesting and processing company. Trident is a privately held, 100 percent USA-owned company with global operations in 6 countries and serves customers in almost 60 countries. Headquartered in Seattle, Washington (USA), Trident employs approximately 9,000 people worldwide each year and partners with over 5,400 independent fishermen and crewmembers. Trident harvests and processes virtually every commercial species of salmon, whitefish, and crab harvested in the North Pacific and Alaska. The global supply chain also includes cultured and wild species from a network of trusted sources worldwide.
Follow Trident Seafoods on the web at www.tridentseafoods.com or on social media on LinkedIn, Facebook, X (formerly Twitter), Instagram, Pinterest, or YouTube.
About Silver Bay Seafoods
Silver Bay Seafoods is an integrated processor of frozen salmon, herring, whitefish and squid products for domestic and export markets. It began in 2007 as a single salmon processing facility in Sitka, Alaska and has grown to one of the largest seafood companies in Alaska, operating twelve domestic processing facilities throughout Alaska and the West Coast. Silver Bay is owned by 600 fishermen who supply the company’s state-of-the-art processing plants with wild-caught, sustainably harvested seafood that is sold to customers worldwide.
Follow Silver Bay Seafoods on the web at www.silverbayseafoods.com.
FOR MORE INFORMATION, CONTACT:
Alexis Telfer (Trident Seafoods, Corporate Communications) at atelfer@tridentseafoods.com.
Abby Fredrick (Silver Bay Seafoods, Director of Communications) at abby.fredrick@silverbayseafoods.com.