Fishermen owned company Silver Bay Seafoods has announced the acquisition of food processing company Orca Bay Foods.
Both companies formed a joint venture over the past few years where Silver Bay was the supplier of seafood and Orla Bay was processing, selling, and marketing the products.
“Orca Bay is excited to join Silver Bay Seafoods as we continue our mission of delivering sustainable, delicious, high-quality products. This partnership will provide a unique opportunity for us to share the extraordinary Silver Bay story and allow fishermen to connect more directly with consumers,” said Phil Crean, CEO at Orca Bay Foods.
Cora Campbell, president and CEO at Silver Bay Seafoods said, “This strategic acquisition provides opportunity for our fishermen owners to not only own their own primary processing plant but own the secondary processor, as well. This step allows Silver Bay Seafoods to enter secondary processing with a partner who has decades of experience and demonstrated success”.
Orca Bay Foods will operate as an independent business after the transaction.
Source: Silver Bay Seafoods