Icicle Seafood to Acquire Snopak

Icicle Seafoods, Inc., has reached a preliminary agreement to acquire Snopac Products, Inc., an independently owned and operated seafood processing company that operates a seafood processing plant in Dillingham, AK, and a seafood processing vessel that together enable the Company to process more than 1 million pounds of round weight per day. It also has a significant presence in the Bristol Bay sockeye salmon fishery and participates in herring and pink salmon fisheries with the Innovator.

"We are excited about this transaction, which allows Icicle to expand its operations through a modernized shore-based processing facility and an efficient vessel processing platform," says Icicle President/CEO Dennis Guhlke. "Snopac is known for its strong relationships with its markets and fishermen, as well as its top quality products. This strategic acquisition is another step in our growth strategy as a leading processor of salmon and other seafood products. We are pleased to welcome and work with such a highly respected, experienced management team and employee base."

Icicle is one of the largest and most diversified seafood companies in North America. Its core business is the primary processing of seafood such as wild salmon, pollock, crab, halibut, cod, sablefish and herring in most major fisheries throughout Alaska, with both on-shore and floating processing facilities. Icicle's products are sold throughout the world into a variety of customer channels including industrial, food service, wholesale and retail.