Silver Bay Makes Deal For Peter Pan Plants

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Category: News

Created on Thursday, 07 November 2024 14:57

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By Sentinel Staff
    Silver Bay Seafoods announced Wednesday that it will acquire processing facilities owned by Peter Pan Seafoods at Port Moller on the Alaska Peninsula and at Dillingham on Bristol Bay.
Silver Bay has been operating the Dillingham and Port Moller plants for the 2024 salmon season under an agreement with Peter Pan Seafoods co-owner Rodger May.
    Silver Bay said the parties have reached an agreement to transfer control of the Peter Pan facilities to SBS immediately while completing the transfer of ownership “to ensure a seamless transition for fishermen, communities and employees.”
    “Silver Bay successfully operated these facilities in 2024, and we enjoyed the new relationships with fishermen and communities that came with this opportunity,” Silver Bay president and CEO Cora Campbell said in a statement. “By permanently adding these facilities into the Silver Bay Seafoods network, we not only stabilize processing in these communities, we also create synergies, efficiencies and product form diversity that benefit our fishermen. ... We want to thank Rodger May for prioritizing certainty for fishermen and communities in making this transition.”
    May is an entrepreneur and fish trader who in September outbid Silver Bay in an auction for Peter Pan Seafood’s assets, including the processing plants in Dillingham and Port Moller. Earlier this year SBS announced agreement to buy the Peter Pan Seafoods plant at Valdez.
    Founded in 2007 on the site of the former Alaska Pulp Corp. mill in Sitka’s Silver Bay, SBS has become one of the largest seafood companies in the state, with nine processing facilities in Alaska and on the West Coast. The company processes salmon, herring, whitefish and squid for domestic and export markets.
    The company, with headquarters in Seattle, is owned by 600 fishermen who supply the company’s processing plants with “wild-caught, sustainably harvested seafood” sold worldwide, Silver Bay says on its website. In addition to the plant in Sawmill Cove, the company has an office on Lake Street.