Sealaska has sold off its investment in Seattle-base based processor Orca Bay Foods and is now in the process of acquiring an ownership stake in two Icelandic seafood firms, the company said.

Orca Bay Foods President Phil Crean is taking the business back under sole ownership, Sealaska said. Orca Bay plans to continue to focus on frozen breaded and battered products.

Sealaska, which is switching its focus to new investments in chilled seafood products, announced plans to acquire equity in two leading Icelandic seafood companies IceMar and AG Seafood.