News and Press

Silver Bay Seafoods to Acquire Trident Seafoods’ Ketchikan Plant

The parties expressed a mutual commitment to a smooth transition for the benefit of all stakeholders.

Trident's Ketchikan, Alaska processing facility

Seattle, Wa. and Sitka, Alaska – March 13, 2024 – Trident Seafoods and Silver Bay Seafoods jointly announced that the companies have reached an agreement in principle for Silver Bay to acquire Trident’s Ketchikan processing facility. The companies are currently engaged in a standard due diligence process and negotiating final deal documents. The sale is expected to be finalized in April 2024.

Located approximately 100 miles north of the Canadian border in the Southeast panhandle of Alaska, Trident’s Ketchikan facility is dedicated entirely to processing salmon. In addition to canned and frozen salmon, the plant also packs and ships fresh salmon in season for direct distribution.

“We are excited to add this facility to the Silver Bay family and appreciate Trident’s focus on finding the best solution for the community, employees, and fleet,” said Cora Campbell, President and CEO of Silver Bay Seafoods. “We look forward to operating the Ketchikan facility, along with our other Southeast facilities in Sitka and Craig, for the 2024 salmon season.”

“Trident and Silver Bay are structuring the transaction around a shared goal of ensuring a seamless transition that supports the fleet, employees, and the Ketchikan community,” said Joe Bundrant, CEO of Trident Seafoods. “As difficult as it is to part with the Ketchikan operation, it will be a great addition to Silver Bay’s portfolio. More importantly, Silver Bay will be a great partner to the many stakeholders dependent on this plant.”

Trident and Silver Bay said they will work with those affected over the coming weeks to provide more details as they become available.

For more information, contact Alexis Telfer (Trident Seafoods, Corporate Communications) atelfer@tridentseafoods.com or Abby Fredrick (Silver Bay Seafoods, Director of Communications) abby.fredrick@silverbayseafoods.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 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 nine 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.