Icicle Seafoods to acquire Smoki Foods

by FoodBusinessNews.net Staff
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SEATTLE — Icicle Seafoods Inc., a seafood harvesting and processing company, announced that it has entered into an agreement to purchase Smoki Foods, along with its subsidiaries, American Gold Seafoods and Cypress Island Seafoods.

Smoki Foods produces and distributes seafood, and specializes in farmed salmon. American Gold is the only U.S. owned and operated salmon farming company, Icicle said. Cypress Island Seafoods consists of a processing plant in Blaine, Wash.

"We are very pleased to announce this transaction with Smoki Foods," said Don Giles, president and chief executive officer, Icicle. "The combination of these businesses will provide both Smoki Foods and Icicle Seafoods substantially expanded access to seafood resources, and will enable them to provide broader and deeper product mix to their customers. Smoki Foods’ unique product mix, talented and dedicated employees, as well as its proximity to Icicle Seafoods, make it a perfect fit with the strategic direction of our Company."

Paine & Partners, L.L.C., the private-equity firm that acquired Icicle in September 2007, had a key role in brokering the transaction, the company said.

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