Pacific Seafood will Acquire Trident Seafoods Kodiak Operations

Trident Seafoods and Pacific Seafood have reached a preliminary agreement for Pacific Seafood to acquire Trident’s processing operations in Kodiak, Alaska. While the transaction is still subject to completion of the due diligence process, both firms expect to finalize the agreement by November.

In a joint statement, the companies emphasized their shared commitment to maintaining job security and ensuring uninterrupted operations throughout the transition.

“Our top priority is to reassure employees and the fleet that this is a handoff, not a shutdown,” said Joe Bundrant, CEO of Trident Seafoods. “We are committed to a smooth transition with Pacific Seafood, so they are well prepared to operate for the 2025 A season.”

Trident’s Kodiak processing facilities manage a diverse range of seafood, including pollock, salmon, Pacific cod, halibut, flatfish, rockfish, crab, and herring.

“We are excited about this opportunity to expand our Kodiak operations and leverage our diverse national and international distribution channels to provide even more opportunities for Kodiak team members and the fleet,” said Frank Dulcich, President and CEO of Pacific Seafood.

“Pacific Seafood’s expertise, value-added capabilities, and robust distribution infrastructure position them well to bring immediate value to the wide variety of species harvested in Kodiak,” Bundrant said.

Pacific Seafood, a seasoned operator with established operations in Kodiak and strong connections to many vessels in the local fleet that operate throughout the Pacific Northwest, will oversee the combined operations. Leadership will be under Ashton Meier, Pacific Seafood’s vice president of processing, who brings more than 20 years of experience in seafood processing and global markets.

In December 2023, Trident Seafoods unveiled a restructuring plan aimed at modernizing and investing in its remaining Alaska operations, which includes the sale of four processing plants in the state. Both Trident Seafoods and Pacific Seafood have voiced concerns over the competitive pressures facing shoreside processors and the communities that depend on them.

“I was born in Kodiak, and I feel a special connection to the Kodiak community and its people,” added Bundrant. “This is a bittersweet moment for me, but I’m confident that Pacific Seafood is the right partner to serve this community with passion and integrity.”

The companies also expressed support for recommendations from Alaska’s Bycatch Task Force, advocating for the introduction of management tools in the Gulf of Alaska groundfish trawl fisheries, similar to those used in rationalization programs. They emphasized that ending the “race for fish” in trawl fisheries is essential for the long-term sustainability of shoreside groundfish processing.

Seattle-based Trident Seafoods is North America’s largest vertically integrated seafood company, specializing in the harvesting and processing of a broad range of seafood. Founded in 1973, the privately held and 100% U.S.-owned company operates globally, with facilities in six countries and customers spanning nearly 60 nations. Trident employs approximately 9,000 people each year and collaborates with over 5,400 independent fishermen and crew members.

Pacific Seafood, founded in 1941 by Frank Dulcich Sr., remains a family-owned and operated company with a mission to provide high-quality, sustainable seafood. The company manages the entire supply chain, from harvesting and fishing to processing, aquaculture, and distribution. Pacific Seafood supplies a wide array of seafood products to markets all around the globe. Headquartered in Clackamas, Oregon, the company continues to be a key player in the industry, dedicated to offering what it describes as the “healthiest protein on the planet.”