“Opens a door to Silver Bay’s growth in value-added processing”
Alaska fishermen began Silver Bay Seafoods in 2007 as a single salmon processing facility in Sitka, AK.
Today, Silver Bay is one of Alaska’s largest seafood companies, operating six processing facilities throughout Alaska and the West Coast. Silver Bay describes itself as “an integrated processor of frozen, salmon, herring and squid products for domestic and export markets.”
The purchase of Orca Bay Foods positions Silver Bay as “a much larger vertically integrated player in Alaskan seafood processing, with the new company having a combined turnover in excess of $800 million, estimated UnderCurrent News.
Here’s a complete write up by Peggy Parker at SeafoodNews.com:
Silver Bay Seafoods, the largest fishermen-owned processor in Alaska, announced last week the purchase of Seattle-based Orca Bay Foods.
“This strategic acquisition provides opportunity for our fishermen owners to not only own their own primary processing plant but own the secondary processor, as well,” said Cora Campbell, President and CEO of Silver Bay.
Fifteen years ago, Silver Bay was an upstart group of fishermen armed with the temerity to want a broader role in processing, distribution and marketing. Today, that initial vertical integration has positioned them as one of Alaska’s top salmon buyers with six large processing facilities. They also own three processing plants and several offload sites along the California coast serving a robust squid fleet.
With the purchase of Orca Bay, which operates a 77,000 square-foot value-adding facility in Seattle’s SODO District, Silver Bay takes the next leap into vertical integration. According to the details released by the company earlier this week, Orca Bay Foods will continue to operate as a separate business, with its experienced staff and management in place, a well-established brand, and strong distribution channels throughout North America. “This acquisition marks a significant milestone and opens a door to Silver Bay’s growth in value-add processing, and a significant expansion of its already vertically integrated structure,” the company said.
“Orca Bay is excited to join Silver Bay Seafoods as we continue our mission of delivering sustainable, delicious, high-quality products. This partnership will provide a unique opportunity for us to share the extraordinary Silver Bay story and allow fishermen to connect more directly with consumers,” said Phil Crean, CEO at Orca Bay Foods.
Through a joint venture, Silver Bay has supplied large volumes of seafood and Orca Bay manages secondary processing, sales, and marketing for several years.
Orca Bay Foods has the capacity to process breaded, battered, crab, steaks, portions, with customized package design and function, and a complete range of equipment options. The company has expanded to offer vegan and vegetarian product manufacturing as well.
