Business News

Alaska Ocean photo

Anacortes-based Alaska Ocean Seafood, which owns and operates the largest and most sophisticated pollock catcher/processor in the United States, has been sold to Seattle-based Glacier Fish Company.

The sale won’t affect Alaska Ocean’s 17 employees in Anacortes or the 150 crew members who work aboard the company’s vessel, the 376-foot Alaska Ocean. The Alaska Ocean is 376 feet long and has a hold capacity of 6 million pounds. More than half the crew is from Washington, many from Skagit County. The ship operates 24 hours a day for 210 days a year.

The combined company will have projected 2008 revenues greater than USD$100 million and over 400 employees. The transaction creates significant operating synergies and provides an optimal platform for future growth and expansion. Glacier Fish will become the third largest at-sea harvester/processor of Alaska pollock and U.S. west coast whiting.

The transaction has been approved by the board of directors of each company and is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and approval of U.S. Department of Transportation Maritime Administration, with an expected closing in early part of June this year.

“This transaction is a very significant event for Glacier Fish Company and will serve to further solidify our prominent position in the Bering Sea and west coast fisheries while strengthening our ability to provide our long-term customers with the highest quality products,” stated Erik Breivik, Chairman and Chief Executive Officer of Glacier Fish.

Founded in 1982 by pioneers of the Alaska seafood industry, Glacier Fish Company harvests pollock, cod and whiting from the Bering Sea and Northwest fishery resources to produce products such as frozen-at-sea fillets, surimi, roe and headed and gutted fish. The company owns and operates a fleet of three catcher processors and two freezer long-liners.