Silver Bay acquires Peter Pan's Valdez plant, takes over operations at two other Peter Pan facilities

Alaska salmon processors Silver Bay Seafoods and rival Peter Pan Seafood have reached a deal for Silver Bay to acquire Peter Pan's Valdez, Alaska, processing plant as part of a larger yet unfinalized deal that could lead to Silver Bay acquiring additional Peter Pan facilities, the companies said in a press statement released Thursday evening.

Silver Bay also now plans to operate the Peter Pan facilities in Port Moller and Dillingham, Alaska, for the 2024 salmon season.

"Shifting operations of the two facilities to SBS is a component of a larger restructuring, still being finalized, in which Silver Bay would acquire Peter Pan’s processing facilities and support sites after the 2024 salmon season," the companies said in the press statement.