Pacific Seafood is one of the largest seafood companies in North America. The family-owned business expanded to become one of the largest vertically integrated seafood processing and distribution companies in the United States. Pacific's president and CEO, Frank Dulcich, is the grandson of the company's founder, also named Frank Dulcich.
Little love lost between the two families. It's such a shame to see Trident slowly dismantling itself and it's probably not over yet. But maybe it's for the best. Running big operations in Alaska takes top people with Alaska operations experience. Trident was No. 1 in this area as compared to, say, OBI. But those days have passed as most have died, retired or moved on.
I do not blame Joe Bundrant. His dad wanted to be the king of Alaska fishing, he does not. The family could sit on a few billion and make way more money with less risk or public attention. Bundrant is going to cash out everything besides pollock and eventually cash out the pollock to CDQ.
Trident rose to the top led by Chuck. He recognized that the strength of the company was dependent on the fish resources in Alaska. So, as the company grew, he began to bring in people and grow people that were the best operations managers in Alaska. They are now gone and probably can't be replaced.
The industry as a whole has a lack of competent management. Pollock in the Bering Sea is the easiest to deal with. Dependable harvests and a rationalized fishery. So, it does make sense for Trident to devolve into a Bering Sea pollock processor. And if crab makes a comeback, well, that is also a rationalized fishery and would fit right into a slimmed down Trident.
The problem as I see it is Joe has never been a fisherman like his dad and could care less about the industry. Chuck had the best people working for him and it showed. I really don't know what to think about Trident's game plan anymore.
Nice to see a buyer that has some size to them, rather than a grifter.
ReplyDeleteInteresting to sell from one Bundrant to another. Merely a transfer of assets within the family.
ReplyDeleteA Bundrant owns Pacific Seafood? is there anything online that shows this?
DeletePacific Seafood is one of the largest seafood companies in North America. The family-owned business expanded to become one of the largest vertically integrated seafood processing and distribution companies in the United States. Pacific's president and CEO, Frank Dulcich, is the grandson of the company's founder, also named Frank Dulcich.
DeleteLittle love lost between the two families. It's such a shame to see Trident slowly dismantling itself and it's probably not over yet. But maybe it's for the best. Running big operations in Alaska takes top people with Alaska operations experience. Trident was No. 1 in this area as compared to, say, OBI. But those days have passed as most have died, retired or moved on.
ReplyDeleteJoe's sister is married to Dulcich.
ReplyDeletehttps://www.intrafish.com/news/wedding-draws-bundrant-dulcich-families-closer/1-1-551800
ReplyDeleteWould be nice if IntraFish or others mentioned this. It's newsworthy.
ReplyDeleteI do not blame Joe Bundrant. His dad wanted to be the king of Alaska fishing, he does not. The family could sit on a few billion and make way more money with less risk or public attention. Bundrant is going to cash out everything besides pollock and eventually cash out the pollock to CDQ.
ReplyDeleteCompletely agree. And he should cash out. Enjoy life! His family earned it.
DeleteTrident rose to the top led by Chuck. He recognized that the strength of the company was dependent on the fish resources in Alaska. So, as the company grew, he began to bring in people and grow people that were the best operations managers in Alaska. They are now gone and probably can't be replaced.
ReplyDeleteThe industry as a whole has a lack of competent management. Pollock in the Bering Sea is the easiest to deal with. Dependable harvests and a rationalized fishery. So, it does make sense for Trident to devolve into a Bering Sea pollock processor. And if crab makes a comeback, well, that is also a rationalized fishery and would fit right into a slimmed down Trident.
The problem as I see it is Joe has never been a fisherman like his dad and could care less about the industry. Chuck had the best people working for him and it showed. I really don't know what to think about Trident's game plan anymore.
ReplyDelete