North Pacific Seafoods Inc. purchase Alaska Salmon Processing Plant to expand its share of Sockeye Salmon Production

Dec. 22. 2011
Marubeni Corporation

Marubeni Corporation ("Marubeni") announces that 100% owned subsidiary North Pacific Seafoods Inc. (NPSI) has reached an agreement with Yardarm Knot Inc. (YAK) to acquire the Red Salmon Cannery (Red Salmon) to expand its Alaskan Seafood operation. The amount will be about US$47 million.

With the acquisition of Red Salmon, NPSI’s annual seafood production volume will be increased to 57,000M/T from 45,000M/T. 

Alaska seafood, including Wild Salmon, has been well managed by US National Marine Fisheries Service and Alaska Department of Fish and Game.  Many Alaska seafood species have obtained MSC (*) certification, which is highly rated worldwide.

Alaska supplies 50% of world wide wild salmon. 75% of Sockeye Salmon, which is very familiar with the Japanese consumer, is supplied from Alaska. (Sockeye salmon is not farmed).

With this acquisition, Marubeni Seafood group will increase the volume of Alaskan Sockeye Salmon they handle.

Since Marubeni joined the Alaska Seafood industry in 1972, they have been selling Alaskan Wild Salmon and have the highest market share of Sockeye Salmon in the Japanese market. Marubeni will increase the volume of all other seafood, which together with Alaskan Salmon will enhance Marubeni’s stable seafood supply as part of global food supply chain.

<Red Salmon>
Address: Mile maker 15, Naknek AK 99633, USA
Site Area: 175,000m2
Facility: Frozen Processing Line, Canning Processing Line
Main Item: Sockeye Salmon 9,000M/T (annually)
                 Sac Roe Herring 3,000M/T (annually)

Address: 4 Nickerson Street, Suite 400, Seattle, WA 98109 U.S.A.
Shareholder: Marubeni Corporation 100%
Business: Processing Alaska Seafood, Importing seafood
Main Item: Salmon, Pacific Cod, Pollock, Halibut, Rock Fish, Flatfish, Shrimp