After months of speculation, we now have confirmation that the owners of Icicle Seafoods Inc. are selling the company.
Here's the press release.
Icicle, based in Seattle, is one of Alaska's largest seafood processors.
Paine & Partners, the private equity firm that's held Icicle since 2007, says it has agreements to sell Icicle in two pieces.
Convergence Holdings Inc. will acquire Icicle's land-based wild seafood processing and farmed salmon activities.
Dominion Catchers LLC will acquire Icicle's harvesting and processing vessels as well as the associated fishing rights.
"Convergence and Dominion have agreed to enter into long-term contracts to continue Icicle's diversified seafood operations," the press release says.
Convergence is described as "the latest company established by the Indonesia-based Soetantyo family."
The transaction is expected to close in August. Naturally, no one is revealing the sale price.
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