Merger of Orca Bay Seafoods with Odyssey Foods

Situation

Orca Bay Seafoods is a large, value-added processor and distributor of both domestic and international seafood with an emphasis on Alaska salmon. Products are sold under the Orca Bay and Passport brand names as well as assorted private label brands. Operating from a single location in Renton, Washington, Orca Bay supplies retailers, club stores, broadliners and restaurant chains.

ZS Role

Zachary Scott was engaged by the shareholders of Orca Bay Seafoods to evaluate various strategic business combinations and assist in the merger transaction with Odyssey Foods.

Results

The merger of Orca Bay Seafoods was consummated with Odyssey Foods, a supplier of a variety of seafood products to supermarkets and restaurants under the Treasures from the Sea and Chef’s Treasures brands. Whereas, Orca Bay Seafoods emphasizes fresh, frozen products with large format retailers, Odyssey is known for its breaded products in the food service channel. The merger will allow the combined entity to offer a broader range of products to its combined customer base from a co-location that will allow more efficient value-added production.

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