Silver Bay Seafoods and the Bristol Bay Economic Development Corporation (BBEDC) have announced a partnership to strengthen Alaska’s seafood industry. The collaboration aims to enhance the stability of Alaska’s seafood industry, benefiting local fishermen and communities reliant on seafood processing.
Silver Bay will acquire OBI Seafoods, previously owned by Icicle Seafoods, and manage its processing facilities in Alaska and Washington. These facilities produce a variety of seafood, including salmon, whitefish, and crab, in fresh, frozen, and canned forms.
BBEDC, a community development organization, holds a 50% interest in OBI Seafoods and has a longstanding commitment to supporting economic development in Western Alaska, funding various programs for its communities.
“With the many challenges facing Alaska’s seafood industry, BBEDC recognizes the importance of strategic partnerships to support Alaska’s regional fishing economies,” said Michael Link,
CEO of BBEDC. “We are pleased to partner with another strong Alaskan company to achieve the efficiencies this industry needs to remain competitive in a global economy.”
Silver Bay, founded in 2007, is now one of Alaska’s largest seafood companies, operating 13 facilities. It is owned by 600 fishermen who supply wild-caught, sustainably harvested seafood.
“Silver Bay Seafoods is excited to expand our coastal Alaska partnerships to create more stability in the seafood sector” said Cora Campbell, President and CEO of Silver Bay Seafoods. “This investment in OBI will allow us to serve more fishermen and communities. We plan to bring our fishermen focus, commitment to innovation, and operational excellence to this partnership to maximize the competitiveness of the Alaska seafood industry.”
