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Originally published Wednesday, February 29, 2012 at 11:59 AM

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Icicle Seafoods acquires Snopac

Icicle Seafoods of Seattle, already among the largest U.S. seafood companies, has agreed to acquire Snopac Products, which operates an Alaskan processing plant and a processing vessel in the sockeye salmon, herring and pink salmon fisheries.

By Seattle Times business staff

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Icicle Seafoods of Seattle, already among the largest U.S. seafood companies, has agreed to acquire Snopac Products, which operates an Alaskan processing plant and a processing vessel in the sockeye salmon, herring and pink salmon fisheries.

Terms were not disclosed.

The deal would add 1 million pounds of daily processing capacity to Icicle's operations.

Icicle had 2010 sales of $400 million, ranking it 12th among North American seafood companies, according to Seafood Business magazine.

The company, owned by private equity funds managed by Paine & Partners of New York, is active in a range of Alaska wild fisheries. It also owns a large salmon farming operation in the Pacific Northwest, and has a joint venture in Chile to produce farmed salmon and trout.

Gregory Blakey, chief executive officer of Snopac, said in a statement, "While we take a lot of pride in being one of the last independent, family-owned processors in Alaska, we know that a combination with Icicle is the best long-term solution for our employees and fleet."

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