Silver Bay Partners with BBEDC to Purchase Former Icicle Stake in OBI Seafoods

Silver Bay Seafoods is set to acquire a stake in Alaska seafood processor OBI Seafoods, purchasing the share previously owned by Icicle Seafoods, a subsidiary of Canadian seafood giant Cooke.

The deal involves a partnership between Silver Bay and the Bristol Bay Economic Development Corporation (BBEDC), which acquired a 50% stake in OBI (previously Ocean Beauty Seafoods) in 2007. Silver Bay will also garner more processing power within the wild Alaska salmon sector.

BBEDC and Silver Bay said that the partnership...