Pacific cod merger closes; BBNC deal set for start of October
The US’ two largest Pacific cod longline companies have officially merged, sources confirmed to Undercurrent News.
A deal between Clipper Seafoods and Blue North, which received the go-ahead from the US Department of Justice earlier this week, closed at 12:01 a.m. Friday, Sept. 13, sources said.
However, an investment in the company from the Bristol Bay Native Corporation (BBNC), which plans to take a 75% stake in the newly merged Blue North Clipper will take a few more weeks and will likely close at the beginning of October, sources added.