Wednesday, September 18, 2019

BBNC Will Acquire Blue North and Clipper Seafoods

Bristol Bay Native Corporation (BBNC) has announced the pending acquisition of two major operators in the freezer longline cod sector of the Bering Sea fishery.

The Alaska regional native corporation, with offices in Anchorage and Dillingham, plans to acquire Blue North Fisheries and Clipper Seafoods on September 30. This would put the company in a position to bring more Bering Sea earnings home to Alaska, for the benefit of its 10,000 shareholders and the local economy.

Blue North and Clipper Seafoods would be reorganized under Bristol Bay Alaska Seafoods, a newly formed subsidiary of BBNC. Former Clipper Seafoods President David Little would continue to manage operations, and both Michael and Patrick Burns of Blue North Fisheries would stay involved in operations. In addition, BBNC has created Bristol Bay Seafood Investments LLC to serve as a holding company for Bristol Bay Alaska Seafoods LLC and future seafood investments.

Jason Metrokin, president and CEO of BBNC, noted that the successful financial and environmental track records of both firms made this an attractive investment for BBNC.

The freezer longline cod sector of the Bering Sea, which harvests thousands of tons of Alaska cod annually, is certified by the Marine Stewardship Council as a well-managed, sustainable fishery.

Both Blue North and Clipper seafoods have been industry leaders for decades, pioneering many fishing practices and technologies aimed at making the fishery one of the world’s most environmentally sustainable commercial fisheries.

Blue North’s current fleet of five vessels includes the F/V Blue North, which produces boneless cod fillets, cod loins and vacuum-packed consumer-ready cod products on board for global markets. Clipper Seafoods, also a leader in the freezer longline sector has six vessels.

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