OCTOBER 2, 2017
Orca Bay Seafoods and Odyssey Foods Merger
A new company has been formed that is jointly owned by Orca Bay Seafoods, Inc. and Odyssey Foods, LLC and the companies will merge their sales and operations into a single entity. Merging the two marketing and value-added processing businesses will result in greater efficiencies and economies of scale and enhance the product mix available to customers.
The owners of both Orca Bay and Odyssey bring a common vision and business philosophy as well. Sealaska Corporation acquired a majority interest in Odyssey earlier this year. Tokusui Corporation of America is the long-time owner of Orca Bay. Both Sealaska and Tokusui share a foundation built on honesty, community and respect and those core beliefs will continue to guide the new combined enterprise.
About Odyssey: Founded in 1983, Seattle, Washington based Odyssey supplies a multitude of seafood products under its Treasures from the Sea and Chef's Treasures brands to both supermarkets and foodservice distributors and provides private label frozen food products processed and packed at its Seattle based processing facility.
About Orca Bay: Based in Renton, Washington, Orca Bay has been a leading North American Seafood processor and distributor since 1985. Orca Bay processes and packs its products at its Renton processing facility and distributes retail and foodservice seafood products under the Orca Bay brand to club store and foodservice accounts.
About Sealaska: Sealaska, an Alaska Native Corporation owned by more than 22,000 shareholders, invests in several sectors including natural food, seafood, maritime services and environmental services.
About Tokusui: Tokusui Corporation was founded in 1924, headquartered in Japan with offices also in Singapore and North America. Tokusui has holdings in many areas including food processing, wholesaling, and distribution.
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.