Sitka-based Silver Bay Seafoods is buying out the international seafood processing giant OBI.
Silver Bay announced the acquisition on Tuesday, stating that it is partnering with the Bristol Bay Economic Development Corp.
In a press release, Silver Bay says it plans to manage all OBI facilities and operations, including processing plants in Petersburg, Seward, Kodiak, Larsen Bay, Egegik, Wood River, Cordova, and Naknek, as well as a warehouse and labeling facility in Kent, Wash.
The processing plants produce salmon, whitefish and crab products.
The takeover has long been rumored, with visits by Silver Bay officials to some of the plant sites.
Silver Bay is a fishermen-owned company that operates 13 plants in Alaska and on the West Coast.
OBI was created in 2020 when two large seafood companies merged – Icicle Seafoods and Ocean Beauty Seafoods. Silver Bay is acquiring Icicle’s stakes in OBI. Bristol Bay Economic Development Corporation acquired half the stakes in Ocean Beauty Seafoods back in 2007 before it became OBI.
