The Bristol Bay Native Corporation (BBNC) has been approved by the US Department of Justice (DOJ) to move forward with its acquisition of Clipper Seafoods and Blue North Fisheries, two of the largest harvesters and marketers of hook-and-line Pacific cod in the United States.
Combined, the two companies would control 37 percent of the hook-and-line/catcher-processor cod quota in the Bering Sea. Because of this, the BBNC reached out in July to the DOJ for a review of the deal to ensure it didn't violate any antitrust rules.
The agency had originally set a 30-day review period for the deal that was set to expire in mid-August.
The DOJ approved the deal, which is expected to be closed by the end of September, a source close to the deal told IntraFish.
The companies are working with consulting group Strategies 360 in Alaska on the deal, the source said, which will provide more details on the process.
BBNC President and CEO Jason Metrokin (pictured on front page) could not be reached by IntraFish for comment.