Trident Seafoods sells Petersburg processing facility to E.C. Phillips & Son

USA – Trident Seafoods, a prominent player in the seafood industry, has finalized the sale of its processing facility in Petersburg, Alaska, to E.C. Phillips & Son, a reputable seafood company based in Ketchikan, Alaska.

CEO Joe Bundrant of Trident Seafoods expressed confidence in the acquisition, emphasizing E.C. Phillips & Son’s longstanding history and strong reputation in the Alaska fishing industry.

He noted that the sale includes Trident’s processing plant, bunkhouse, galley, and housing units in Petersburg, with the deal expected to close in April.

“E.C. Phillips & Son is a well-established family company with an almost 100-year history in the Alaska fishing industry,” Trident Seafoods CEO Joe Bundrant said in a statement.

“The company has an excellent reputation for quality and support, making it a great fit for Petersburg.”

E.C. Phillips & Son, known for its year-round seafood processing operations, viewed the acquisition as a significant opportunity to expand its operations and bolster its presence in southeast Alaska.

Trident Seafoods’ Senior Vice President of Alaska Operations, Jeff Welbourn, highlighted the potential for the Petersburg plant under E.C. Phillips’ management, foreseeing a longer processing season and enhanced focus on variety and direct distribution.

He noted that the sale of the Petersburg facility is part of Trident Seafoods’ broader divestment strategy, which includes the sale of processing plants in Ketchikan, Kodiak, False Pass, and support facilities in Chignik.

“Trident aims to simplify its operations and optimize its portfolio to drive efficiency and profitability.”

E.C. Phillips & Son, established in 1926, operates multiple seafood processing plants across southeast Alaska, including facilities in Ketchikan and Craig.

The company’s diverse portfolio includes a range of species, including halibut, black cod, shrimp, herring, sea cucumbers, and wild Alaska salmon, catering to both domestic and international markets.

Trident Seafoods continues negotiations for the sale of its remaining facilities, including False Pass and Ketchikan, with Silver Bay Seafoods set to acquire the Ketchikan facility.

 Despite the complexities surrounding the sale of its Kodiak facility, Trident remains optimistic, with multiple parties expressing interest.

Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. HERE