Two years ago, when Japanese seafood giant Maruha Nichiro sold Peter Pan Seafood, one of Alaska's oldest processing companies, its new owners vowed to reshape the company and grow its value-added seafood product lines.

Peter Pan Seafood took another step in that direction on Sunday when it announced it has signed a letter of intent for an asset purchase of Trapper’s Creek Smoking Co., including a smokehouse facility in Anchorage, Alaska, and its brands Copper River Smoking Company, Alaska’s Best, Trapper’s Creek, and Eat Like a Grizzly.