Icicle Sale Falls Through

Jay Barrett/KMXT

Private equity firm Paine and Partners, which owns Icicle Seafoods, made quite the announcement this week, when they revealed that its sale to an Indonesian family of companies has fallen through. 

No reason was given for the deal termination, which had originally been announced in June and due to close in August.

The Sutantyo family-owned Convergence Holdings and Dominion Catchers were to split up Icicle, with one taking over farmed fishing and shore-based wild fish processing, and the other getting the company’s catcher-processor fleet and associated quota.

Paine and Partners said in a release they intend to re-initiate a sale process for Icicle as soon as this salmon season is wrapped up.