Zachary Scott is excited to announce the successful sale of the Alaska Pollock business owned jointly by Aleutian Spray Fisheries, Aleutian Pribilof Island Community Development Association, and Bratvold Fisheries to Trident Seafoods.
We are very pleased to have worked alongside Aleutian Spray management, manager of the business, and Matt Fick of Mundt MacGregor LLP on this important transaction.
Aleutian Spray Fisheries, Inc. operates as a catcher and processor of Alaskan and West Coast seafood products. The Company operates primarily in the pollock, hake, cod, and crab fisheries, producing the highest quality seafood enjoyed by consumers around the world.
After more than 50 years of success in the fishing industry, the Company desired to explore divesting the operations of its American Fisheries Act (“AFA”) pollock catcher/processor vessel (the “Starbound”) along with associated AFA vessels and quota rights.
Zachary Scott was engaged by Aleutian Spray Fisheries as the exclusive financial advisor to represent the owners in a sale of the C/P Starbound, F/V Muir Milach, F/V Ocean Harvester, and the associated quota rights.
After a highly competitive process among industry participants, the vessels and quota were sold to Trident Seafoods Corporation (“Trident”), the largest seafood company in the United States. The acquisition of Starbound will allow Trident to expand its AFA pollock fleet and continue to deliver Starbound’s quality product to consumers.
The C/P Starbound and its associated quota represent coveted assets in the off shore pollock sector and imply a different value proposition for different buyers. Although there were many credible buyers, the long-term relationship between ASF and Trident and the special fit with Trident’s global seafood strategy made the difference.
As the Alaska seafood industry has consolidated, Zachary Scott has remained an integral advisor to sellers, buyers, and capital sources throughout the industry. Other recent seafood transactions include the acquisition of Peter Pan Seafoods by Northwest Fish Company, McKinley Capital, and Renewable Resource Group, the simultaneous merger and sale of Clipper Group, Ltd. and Blue North Fisheries to Bristol Bay Native Corporation, and the merger of Ocean Beauty Seafoods and Icicle Seafoods.