October 25, 2018 โ Bellevue, Washington-based tuna supplier Tri Marine International will sell its California wetfish processing business to Alaska salmon processor Silver Bay Seafoods, the companies announced.
The deal, the terms of which were not disclosed, includes Tri Marineโs San Pedro processing plant but not an affiliated fleet of vessels. Those vessels, owned by the Tri Marine affiliate Cape Fisheries, will continue to deliver fish to the facility under Silver Bayโs ownership.
Tri Marine said in a press release that the move was made to focus on its core tuna business.
โIโm delighted that weโve reached an agreement to sell to a highly regarded, strategic and successful company like Silver Bay,โ โ Renato Curto, Tri Marineโs chief executive officer, said. โThe sale of our California coastal pelagic assets and business will enable Tri Marine to concentrate our efforts and our resources on our core business โ global tuna supply.โ