Silver Bay Seafoods

This week it has been reported that Silver Bay Seafoods is trying to acquire Northline Seafoods, one of its competitors in Alaska’s salmon processing industry. It was also reported that Northline CEO and co-founder Ben Blakey resigned on April 15^th, 2026, during the acquisition process. For anyone working the Alaska salmon fishery, this is a news story worth following.

Silver Bay Seafoods has experience with acquisitions. The Sitka-based company, owned by a cooperative of roughly 600 fishermen, has rapidly expanded its footprint across Alaska’s seafood processing sector. In 2024, the company acquired Trident Seafoods’ Ketchikan and False Pass facilities. This expansion continued into March 2025, when Silver Bay purchased Cooke subsidiary Icicle Seafoods’ 50% stake in OBI Seafoods. The agreement, established in collaboration with BBEDC, brought eight significant processing facilities into their network. These plants are located in Petersburg, Seward, Kodiak, Larsen Bay, Egegik, Wood River, Cordova, and Naknek. Silver Bay also took over Peter Pan Seafoods’ Valdez operations and other key assets following Peter Pan’s high-profile bankruptcy.

Industry experts point out that if Northline is acquired, only three companies will dominate Alaska’s salmon processing industry. Such a level of consolidation has not been seen in recent years.

On Friday, June 7^th, 2024, Trident Seafoods and Silver Bay Seafoods announced that Silver Bay is set to acquire Trident Seafoods False Pass processing facility and fuel business on the Alaska Peninsula. This is Silver Bay’s second big move in a region where they already have a presence processing salmon. With this latest addition, Silver Bay will be overseeing salmon at their facilities in Southeast Alaska (Craig, Sitka, Ketchikan), south-central Alaska (Valdez), Kodiak, Bristol Bay (Naknek), and now the Alaska Peninsula (False Pass).

By acquiring the Valdez plant in Prince William Sound and the False Pass plant in Southwest Alaska, Silver Bay has effectively doubled its capacity. The False Pass plant, which Silver Bay opened in 2019, is now an integral part of this expansion.

False Pass is a remote fishing community in southwest Alaska, situated on Unimak Island between the tip of the Alaska Peninsula and the Aleutian Islands. Trident’s False Pass operation was fully dedicated to processing salmon.

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Silver Bay Seafoods will acquire Trident Seafoods False Pass Facilities