Silver Bay Seafoods is set to acquire Peter Pan Seafoods' Valdez facility and operate their facilities in Dillingham and Port Moller during the 2024 salmon season. The plan also includes a potential takeover of Peter Pan's plant in King Cove.
Questions remain about Peter Pan’s processing facility in King Cove, which did not open during the winter season.
The move is part of a larger restructuring for Silver Bay to take over Peter Pan’s processing and support facilities later this year. The plan could include taking over Peter Pan’s plant in King Cove, but the companies’ statement did not specify that facility’s fate. Ultimately, however, Peter Pan decided to sell the cannery and its assets to Seattle-based Silver Bay.
Silver Bay Seafoods Peter Pan Seafoods Processing Operations Acquisition Restructuring Salmon Processors Joint Venture
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