Icicle grows again, GOP likes drilling, rockfish buyers in court

摘要

More consolidation: Once again, the ranks of major salmon buyers at Bristol Bay are shrinking as one processor swallows another. This time it's Icicle Seafoods acquiring Snopac Products. The two Seattle-based companies announced the tentative deal onFeb. 29. The sale price was not disclosed. For Icicle, it's a chance to acquire Snopac's shore plant at Dillingham. The deal also includes the Snopac Innovator, a 310-foot processing vessel that works not only the Bristol Bay salmon fishery but also someherring fisheries around Alaska. The two Snopac assets together can process more than 1 million pounds of round weight per day. Most importantly, Icicle will look to retain Snopac's fishing fleet to grow its share of the lucrative sockeye catch at Bristol Bay. "This strategic acquisition is another step in our growth strategy as a leading processor of salmon and other seafood products," said Dennis Guhlke, Icicle president. Icicle is owned by investment funds managed by Paine & Partners, a private equity firm. We've seen quite a string of processor combinations recently at Bristol Bay, including the December sale of Yardarm Knot's Red Salmon cannery in Naknek to North Pacific Seafoods, a Marubeni subsidiary.