Icicle Seafoods

Last updated

Icicle Seafoods is an American seafood processor and wholesaler with land-based and vessel-based processing facilities throughout Alaska. Its corporate headquarters is in Seattle, Washington.

The company was started as Petersburg Fisheries, Inc. in 1965 by a group of Alaskan fishermen, led by founding CEO Robert Magnus Thorstenson, Sr., vice President Thomas E. Thompson, and fishermen Magnus A. Martens and Gordon Jensen, who would become the chairman of the board[ clarification needed ] during the founders' final years. They purchased the Pacific American Fisheries, cannery in Petersburg, Alaska. These four owned 55% and the company fishermen owned 45%. In 1977, the company was renamed Icicle Seafoods, Inc.

By the early 1980s, Icicle was the world's largest halibut and black cod producer, and was among the world's top salmon producers.

The company was sold to Fox, Paine and Partners in 2007 by the original stockholders, who by this time had migrated approximately to about 75% management and employee ownership, from the original all-fishermen and manager ownership, through an ESOP plan that transferred great benefits to the company's year-round employees. [1]

In 2016, Cook Aquaculture purchased the company, returning the company to fishing family ownership after a decade of investment institutional ownership. [2]

The first million dollars started the company; $100,000 from the principals and a $900,000 loan. Icicle's original shareholders sold their stock after 42 years at $86.00 per share. Their basis was 2.75 cents a share from their original investment in 1965.

Since the 1970s, Icicle has been one of the largest and most progressive and competitive seafood producers in the world, operating primarily throughout Alaska, but with operations in Canada and Washington state.

Today, Icicle is Petersburg's largest hometown employer, taxpayer, economic engine and backbone.

In February 2020, Icicle Seafoods was recognized by Whole Foods Market in its annual Supplier Awards. The company received an award in the retailer's "Raising the Bar for Quality" category. [3] [4] In May 2020, Icicle Seafoods merged with Ocean Beauty Seafoods to form OBI Seafoods LLC. [5]

Related Research Articles

<span class="mw-page-title-main">Petersburg, Alaska</span> City in Alaska

Petersburg is a census-designated place (CDP) in and essentially the borough seat of Petersburg Borough, Alaska, United States. The population was 3,043 at the 2020 census, up from 2,948 in 2010.

<span class="mw-page-title-main">Fishing industry</span> Economic branch

The fishing industry includes any industry or activity that takes, cultures, processes, preserves, stores, transports, markets or sells fish or fish products. It is defined by the Food and Agriculture Organization as including recreational, subsistence and commercial fishing, as well as the related harvesting, processing, and marketing sectors. The commercial activity is aimed at the delivery of fish and other seafood products for human consumption or as input factors in other industrial processes. The livelihood of over 500 million people in developing countries depends directly or indirectly on fisheries and aquaculture.

<span class="mw-page-title-main">Whiteleg shrimp</span> Species of crustacean

Whiteleg shrimp, also known as Pacific white shrimp or King prawn, is a species of prawn of the eastern Pacific Ocean commonly caught or farmed for food.

<span class="mw-page-title-main">Nissui</span> Marine products company based in Tokyo, Japan

Nissui Corporation, is a marine products company based in Tokyo, Japan. Formerly known as Nippon Suisan Kaisha Ltd. from 31 March 1937 to 30 November 2022, it officially changed its name to its common abbreviation on 1 December 2022.

Mowi ASA, formerly known as Marine Harvest ASA, , is a Norwegian seafood company with operations in a number of countries around the world. The company's primary interest is fish farming, primarily salmon, the operations of which are focused on Norway, Scotland, Canada, the Faroe Islands, Ireland and Chile. The group has a share of 25 to 30% of the global salmon and trout market, making it the world's largest company in the sector. Mowi also owns a 'value added processing' unit, which prepares and distributes a range of seafood products, and a number of smaller divisions.

<span class="mw-page-title-main">Alaska pollock</span> Species of fish

The Alaska pollock or walleye pollock is a marine fish species of the cod genus Gadus and family Gadidae.

Sustainable seafood is seafood that is caught or farmed in ways that consider the long-term vitality of harvested species and the well-being of the oceans, as well as the livelihoods of fisheries-dependent communities. It was first promoted through the sustainable seafood movement which began in the 1990s. This operation highlights overfishing and environmentally destructive fishing methods. Through a number of initiatives, the movement has increased awareness and raised concerns over the way our seafood is obtained.

<span class="mw-page-title-main">Fishing in India</span> Major industry employing 14.5 million people

Fishing in India is a major sector within the economy of India contributing 1.07% of its total GDP. The fishing sector in India supports the livelihood of over 28 million people in the country, especially within the marginalized and vulnerable communities. India is the third largest fish producing country in the world accounting for 7.96% of the global production and second largest producer of fish through aquaculture, after China. The total fish production during the FY 2020-21 is estimated at 14.73 million metric tonnes. According to the National Fisheries Development Board the Fisheries Industry generates an export earnings of Rs 334.41 billion. Centrally sponsored schemes will increase exports by Rs 1 lakh crore in FY25. 65,000 fishermen have been trained under these schemes from 2017 to 2020. Freshwater fishing consists of 55% of total fish production.

<span class="mw-page-title-main">Fishing industry in Canada</span>

Canada's fishing industry is a key contributor to the success of the Canadian economy. In 2018, Canada's fishing industry was worth $36.1 billion in fish and seafood products and employed approximately 300,000 people. Aquaculture, which is the farming of fish, shellfish, and aquatic plants in fresh or salt water, is the fastest growing food production activity in the world and a growing sector in Canada. In 2015, aquaculture generated over $1 billion in GDP and close to $3 billion in total economic activity. The Department Of Fisheries and Oceans (DFO) oversees the management of Canada's aquatic resources and works with fishermen across the country to ensure the sustainability of Canada's oceans and in-land fisheries.

<span class="mw-page-title-main">Fishing industry in South Korea</span>

Until the 1960s, agriculture and fishing were the dominant industries of the economy of South Korea. The fishing industry of South Korea depends on the existing bodies of water that are shared between South Korea, China and Japan. Its coastline lies adjacent to the Yellow Sea, the East China Sea and the East Sea, and enables access to marine life such as fish and crustaceans.

Aker BioMarine is a Norwegian fishing and biotech company providing krill products through a fully documented and secured catch and process chain. Based in Oslo, Aker BioMarine is part of the Aker Group and the company also created Eco-Harvesting.

<span class="mw-page-title-main">Fishing industry in Russia</span>

The coastline of the Russian Federation is the fourth longest in the world after the coastlines of Canada, Greenland, and Indonesia. The Russian fishing industry has an exclusive economic zone (EEZ) of 7.6 million km2 including access to twelve seas in three oceans, together with the landlocked Caspian Sea and more than two million rivers.

A community-supported fishery (CSF) is an alternative business model for selling fresh, locally sourced seafood. CSF programs, modeled after increasingly popular community-supported agriculture programs, offer members weekly shares of fresh seafood for a pre-paid membership fee. The first CSF program was started in Port Clyde, Maine, in 2007, and similar CSF programs have since been started across the United States and in Europe. Community supported fisheries aim to promote a positive relationship between fishermen, consumers, and the ocean by providing high-quality, locally caught seafood to members. CSF programs began as a method to help marine ecosystems recover from the effects of overfishing while maintaining a thriving fishing community.

<span class="mw-page-title-main">Thai Union Group</span> Producer of seafood-based food products

Thai Union Group is a Thailand-based producer of seafood-based food products. It was founded in 1977, and was listed on the Stock Exchange of Thailand (SET) on 22 November 1994.

<span class="mw-page-title-main">Aquaculture in Canada</span>

Aquaculture is the farming of fish, shellfish or aquatic plants in either fresh or saltwater, or both. The farmed animals or plants are cared for under a controlled environment to ensure optimum growth, success and profit. When they have reached an appropriate size, they are harvested, processed, and shipped to markets to be sold. Aquaculture is practiced all over the world and is extremely popular in countries such as China, where population is high and fish is a staple part of their everyday diet.

<span class="mw-page-title-main">Loch Duart</span>

Loch Duart is a small, independent Scottish salmon farming company. It is headquartered in Scourie, Sutherland in north-west Scotland and has just over 100 employees. The company owns and operates eight sea sites and two hatcheries in Sutherland and the Outer Hebrides. Sales, marketing and finance departments are located in Montrose and a French sales and marketing office in Lorient, Brittany.

<span class="mw-page-title-main">Fishery cooperative</span>

A fishery cooperative, or fishing co-op, is a cooperative in which the people involved in the fishing industry pool resources, in their certain activities from farming, catching, distribution, and marketing of fish.

CTB, Inc. is a global designer and manufacturer of systems for preserving grain, producing poultry, pigs and eggs, and processing food and a subsidiary of Berkshire Hathaway. The company is headquartered in Milford, Indiana., and employs approximately 3,000 people worldwide.

Fish-booking is the process of pre-ordering delivery of freshly caught, unfrozen fish, crustaceans and mollusks of ocean, sea or river origin directly from the fishermen, fisheries using a specialized service aggregator or directly. Fish-booking is adherent to zero waste concept aimed at the reduction and minimization of waste in the areas, where it is possible.

The True World Group is an American conglomerate.

References

  1. journal_admin (2007-08-11). "New York equity firm buys Icicle Seafoods processor". Alaska Journal. Retrieved 2020-08-26.
  2. "Cooke family buys Icicle Seafoods". www.seafoodsource.com. Retrieved 2020-08-26.
  3. "Here are Whole Foods' top seafood suppliers | Intrafish". Intrafish | Latest seafood, aquaculture and fisheries news. 20 February 2020. Retrieved 2020-02-21.
  4. "Whole Foods Market Announces Winners of Annual Supplier Awards - Whole Foods Market Newsroom". media.wholefoodsmarket.com. 19 February 2020. Retrieved 2020-02-21.
  5. [Ocean Beauty Seafoods LLC "Ocean Beauty Seafoods and Icicle Seafoods Announce Merger"]. Cooke Inc. 29 May 2020. Retrieved 30 April 2024.{{cite news}}: Check |url= value (help)