Food and Beverage Business

Trident Seafoods nears completion of agreements to sell three Alaska plants

Trident Seafoods nears completion of agreements to sell three Alaska plants Fish & Seafood, Frozen, Refrigerated Food and Beverage Business

Trident Seafoods, a US seafood manufacturer, is in the final stages of negotiations to sell three of its manufacturing facilities in Alaska: False Pass, Petersburg, and Ketchikan. The company is simplifying these deals to facilitate a quick closing, especially with the upcoming salmon season in mind. Trident Seafoods has announced that Silver Bay Seafoods will be acquiring its Ketchikan salmon processing facility, with the transaction expected to close next month.

The company is also in talks with multiple parties interested in acquiring its fourth plant in Kodiak, which processes several species year-round. While a deal for this complex plant may take longer to finalize, Trident reassures that it will still provide a market for the upcoming salmon season in Kodiak. This move by Trident Seafoods aligns with its commitment to finding buyers who will uphold the well-being of their fleet, employees, and local communities.

In December, Trident Seafoods announced its plans to sell four shoreside facilities in Alaska, including the cannery in South Naknek and support functions in Chignik. When asked about potential job cuts, Trident emphasized the early stage of the process and the need for time to assess all scenarios. As the company proceeds with streamlining its operations, CEO Joe Bundrant highlights the importance of consolidating to support reinvestments and long-term contributions to the Alaska seafood sector.

While specific details about buyers and the sale timeline remain confidential due to non-disclosure agreements, Trident Seafoods is committed to minimizing impacts on the fleet, employees, and communities during this transition. Senior vice president of Alaska Operations, Jeff Welbourn, assures that the company is proactively working to navigate this period of change swiftly and responsibly.

This restructuring aligns with Trident Seafoods’ strategic business goals and commitment to sustainable growth in the food and beverage industry. The company’s focus on finding the right buyers and optimizing operations reflects industry trends and consumer demands in the food and drink business. Through these actions, Trident is positioning itself to continue driving positive impact in the Alaska seafood sector for years to come.

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