Clipper Seafoods and Blue North Merger Approved by DOJ, New Company has 37% of Longline Pacific Cod Quota
The Department of Justice has approved the pending merger of Clipper Seafoods and Blue North, following a request for an anti-trust review from the Bristol Bay Native Corp.
Clipper Seafoods operates six vessels, with 20% of the longline Pacific cod quota, and Blue North operates five vessels with 17.5% of the TAC, including F/V Blue North the modern high tech vessel launched in 2016.
Once the merger is complete, Bristol Bay Native Corp will purchase an estimated 75% of the combined company. This will be the first BBNC venture in seafood. The company is an investment vehicle with $1.7 billion in revenue.
As the prospect of buying both longline cod companies...
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