Icicle Seafoods in Petersburg to be sold to 2 Indonesian companies

PETERSBURG -- One of Alaska's largest seafood processors is being sold to a pair of Indonesian companies.

The deal involving Icicle Seafoods hasn't yet closed but is expected to be finalized in August, reported KFSK-FM.

Under the deal, Convergence Holdings will acquire Icicle's land-based wild seafood processing and farmed salmon activities. The other company, Dominion Catchers, will get the company's harvesting and processing vessels, as well as the associated fishing rights.

In a written statement, Icicle CEO Chris Ruettgers said the company is pleased "about this announcement under which Icicle will move forward with long-term owners who firmly share Icicle's commitment to quality and sustainability." He said, "Convergence and its affiliates have extensive industry experience that will allow for continued investment in Icicle's business."

It is still unclear what changes may come under the new ownership.

A private investment firm, Paine and Partners, declined to comment on the matter. But in a written statement, the firm said Convergence Holdings and Dominion Catchers have agreed to enter into long-term contracts to continue Icicle's many seafood operations.

Icicle, which started in 1965, is the largest private employer in the town of Petersburg. It brings about 600 workers to its cannery during the summer fishing season.

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