Seattle, Wash. – March 8, 2024 – Trident Seafoods is entering the final stages of closing deals for three of its Alaska shoreside plants, with multiple parties interested in a fourth plant. The company announced in December 2023 that it is seeking buyers for the four plants as part of a comprehensive, strategic restructuring initiative.
Efforts to sell the plants are underpinned by a desire to secure buyers who share the company’s values. “We have been intentional about finding buyers who will take great care of the fleet and employees and who will integrate themselves into the communities,” said Joe Bundrant, CEO of Trident Seafoods.
Information has been sparse since the announcement, as interested parties entering negotiations are bound by non-disclosure agreements. “We know this is an unsettling time, but the company has not been standing still,” said Jeff Welbourn, Senior Vice President of Alaska Operations. “We’re moving as quickly as possible to minimize the impacts on the fleet, our employees, and the communities.”
Negotiations in Final Stages for False Pass, Petersburg, and Ketchikan
The company is close to finalizing sales of its seasonal plants in Petersburg, Ketchikan, and False Pass. “These are relatively simple, straightforward transactions, and we’re simplifying the deals to facilitate closing as quickly as possible,” said Welbourn. “We are keenly aware of the upcoming salmon season, and we are confident that the buyers, with Trident’s support, will be able to communicate with the fleet, employees, and tenders in the coming weeks.”
A Positive Outlook for Kodiak
Trident is speaking with multiple interested buyers for its fourth plant in Kodiak. As the largest and most complex plant, with year-round operations supporting multiple species, the complexity of the operations makes this a lengthier due diligence process.
“Even if we don’t close a deal by this summer, Trident will still provide a market for salmon season in Kodiak,” said Welbourn. “This means that our employees and fleet are secure, and we will share a tender strategy soon.”
“Trident is committed to Alaska for the long term and finding the best solutions for these plants is important. We care deeply about the fishermen and communities. Their success is our success,” said Bundrant. “Consolidating our operations allows us to focus reinvestments and ensure we’re able to positively contribute to the Alaska seafood sector for many years to come.”
For more information contact Alexis Telfer (Trident Seafoods, Corporate Communications) at atelfer@tridentseafoods.com
About Trident Seafoods
Trident Seafoods is the largest vertically integrated seafood harvesting and processing company in North America. 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. Species harvested and processed by Trident include 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 on the Web at www.tridentseafoods.com or on social media on Facebook, X (Twitter), Instagram, Pinterest, YouTube, or LinkedIn.