Alaska seafood processing group Silver Bay announced Tuesday it acquired Seattle-based value-added seafood processor Orca Bay Foods.

Orca Bay Foods will continue to operate as a separate business, the company said.

"This strategic acquisition provides opportunity for our fishermen owners to not only own their own primary processing plant but own the secondary processor, as well," said Silver Bay CEO Cora Campbell.

"This step allows Silver Bay Seafoods to enter secondary processing with a partner who has decades of experience and demonstrated success."