Seattle, Washington-headquartered Icicle Seafoods, ranked as one of Alaska’s largest seafood processors, is being sold to Indonesian companies Convergence Holdings and Dominion Catchers for an undisclosed sum. Agreements to seal the deal, which is not expected to be finalized before August, have reportedly already been signed by sellers private investment firm Paine and Partners and Icicle Holdings, Inc., and representatives of the buyer, the Soetantyo family.
With roots dating back to 1965 at a cannery in Petersburg, Alaska, Icicle Seafoods has grown over the years to become one of the most diversified seafood companies in North America, with facilities throughout Alaska and the Pacific Northwest. Operating processing vessels as well as shore-based processing plants and fish farms, the company’s primarily frozen product line ranges from salmon and crab to halibut to Pacific cod, sablefish, Alaska Pollock and fish roe.
Under terms of the transaction, Convergence will acquire Icicle’s land-based wild seafood processing and farmed salmon activities, and Dominion will obtain the company’s harvesting and processing vessels as well as associated fishing rights.
“We are pleased about this announcement, under which Icicle will move forward with long-term owners who firmly share Icicle’s commitment to quality and sustainability,” said Chris Ruettgers, Icicle’s chief executive officer. “Convergence and its affiliates have extensive industry experience that will allow for continued investment in Icicle’s business.”
