Glacier Fish Company LLC and Nippon Suisan Kaisha Ltd., through its wholly owned subsidiary Nippon Suisan (U.S.A.) Inc., announced the signing of an agreement to purchase Alaska Ocean Seafood LP (AOS). Nippon Suisan simultaneously agreed to make an investment in Glacier Fish to attain a 25% ownership stake through contribution of its interest in AOS and an additional equity investment. Further details of the transaction were undisclosed.
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 United States Department of Transportation Maritime Administration. Closing is expected in June 2008.
The combined company will have projected 2008 revenues greater than U.S. $100 million and more than 400 employees. Glacier Fish will become the third largest at-sea harvester/processor of Alaska pollock and U.S. West Coast whiting.
Founded in 1982, Glacier Fish harvests pollock, cod, and whiting from the Bering Sea and Northwest fishery resources to produce products such as frozen-at-sea fillets, surimi, and roe. Based in Seattle WA, the firm owns and operates a fleet of three catcher processors and two freezer long-liners.