Trident Seafoods fulfills commitment to Alaska

The company will continue to operate its Kodiak, Alaska, plant during the 'B' season while moving forward with confidential negotiations for its sale.
Aerial view over the town and waterfront of Kodiak, Alaska.

Aerial view over the town and waterfront of Kodiak, Alaska. Trident Seafoods' processing plant (in blue) appears on the right side of the image, next to the port.

Photo: Adobe Stock.

Since hanging the 'for sale' sign on four of its plants in Alaska, Trident Seafoods has repeatedly insisted that, beyond the necessary "comprehensive restructuring initiative," the company prioritized fulfilling its commitment to the fleet, communities, and all Alaskan stakeholders. Now, Trident has announced that its processing plant in Kodiak, Alaska, will continue to operate during the 'B' season, "ensuring local fishermen have a market for the season and surrounding businesses remain secure."

"We know how important the Kodiak plant is to the community and the surrounding fisheries," said Jeff Welbourn, Senior Vice President of Alaska Operations commenting on the seafood company's determination for its Kodiak processing plant.

"We appreciate that this is an uncertain time," he continued. "The decision to continue operations through 'B' Season is tied directly to our commitment to ensuring the plant remains an important economic contributor to Kodiak and the surrounding community now and into the future."

This statement reaffirms the words of Trident Seafoods CEO Joe Bundrant, who in announcing the company's strategic restructuring and modernization initiative last December said, "These are significant changes, and we are focused on treating our impacted employees and communities with the respect and compassion they deserve."

Ongoing negotiations with potential buyers

When it announced at the end of last year that it was seeking buyers for four of its coastal plants in Alaska, Trident already said that in the case of the Kodiak processing plant - larger and more complex, with year-round operations for multiple species - it would be more complicated to find a buyer. Now, the company has said this complexity makes its sale a lengthier due diligence process, but negotiations with potential buyers are ongoing.

"We’re currently in the middle of sale negotiations for Kodiak, a process covered by a non-disclosure agreement," CEO Joe Bundrant stated. "While we aren’t able to disclose more details at this time, we’re confident about the plant’s future, and we’re looking forward to sharing more details as soon as possible."

In the statement on its decision to continue operating in Kodiak during the 'B' season, Trident Seafoods also said it is currently in negotiations with potential buyers for the False Pass facility, the fourth of the processing plants the company put up for sale late last year. Just over a month ago in April, Trident completed the sale of its Ketchikan plant to Silver Bay Seafoods, while its Petersburg plant was acquired by E.C. Phillips & Son.

About Trident Seafoods

Trident Seafoods has been operating continuously in Alaska for over 50 years and is North America's largest vertically integrated seafood harvesting and processing company. Privately held and 100 percent USA-owned company, it has global operations in 6 countries and serves customers in almost 60 countries. Headquartered in Seattle, Washington (U.S.), it employs approximately 9,000 people worldwide each year, and partners with over 5,400 independent fishermen and crewmembers.

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