Ocean Beauty co-owner sinks millions into new floating salmon processing concept

The co-owner of Pacific Northwest processing giant Ocean Beauty Seafoods and OBI Seafoods has invested millions of dollars into a new floating processing barge that could shake up the traditional dynamics in the Bristol Bay salmon industry.

Dillingham, Alaska-based Bristol Bay Economic Development Corporation (BBEDC), which owns 50 percent of distributor and smoked salmon supplier Ocean Beauty Seafoods and a minority stake in salmon processing group OBI Seafoods, has put upwards of $20 million (€18.4 million) into Northline Seafoods, a new floating processor concept scheduled to participate in the upcoming wild salmon season, according to several sources familiar with the investment.