APRIL 3, 2017

Sealaska acquires a majority ownership in Odyssey

Sealaska is pleased to announce that it has acquired a majority interest in Odyssey, a company that specializes in the marketing and value-added processing of predominantly frozen seafood under several retail brands.

Odyssey, a Seattle-based company, was founded in 1981 and offers a wide variety of retail and food service seafood products under their Treasures from the Sea and Chef’s Treasures brands. It also provides food service products, custom processing and private label production at its Seattle processing plant, Northwest Seafood Processors.

“The Odyssey deal is a critical step in the development of our Seafood strategy. It provides us with a market driven organization and a well-qualified and dynamic sales team,” said Terry Downes, Sealaska’s COO. “We intend to continue to build our Seafood business through organic growth, and acquisition. As an Alaskan Native owned company we are dedicated to providing a channel to market for seafood products that are created in partnership with the communities that play a critical role in the harvest of Alaskan Seafood.”

Phil Crean will remain as the CEO of Odyssey. “I have been dedicated to the Pacific Northwest and passionate about creating Seafood products my whole career,” he said. “I am proud to be entering into partnership with Sealaska, a community owned Corporation that is dedicated to the cultural and economic success of the communities from which our most sustainable fisheries are managed.”

“I speak for the Board and our Shareholders when I say that I am excited to see us continue to build our Seafood business,” commented Anthony Mallot, Sealaska CEO. “We have subsisted from coastal Alaska for 10,000 years, and this is an industry that is close to our hearts and central to our future.”

Sealaska is an Alaska Native Corporation (ANC) with offices in Seattle and Juneau, AK. Its businesses focus on seafood processing and protecting the health of marine ecosystems. Sealaska is community-owned by more than 22,000 tribal member shareholders and provides economic, cultural, and social benefits to current and future generations of shareholders.