Japanese seafood giant Maruha Nichiro is taking a $28 million (€24 million) hit on the sale of Alaska-based Peter Pan Seafoods to a group of investors, the company announced Monday.
In recent years, Peter Pan Seafoods’ Alaskan salmon business has continued to experience operating losses due to factors such as soaring raw material prices on intensified competition, high costs due to poor catches, as well as a fall in production, said Maruha Nichiro.
