Western Sale Price $37-Million

Jay Barrett/KMXT

A few weeks ago when KMXT first told you of Trident Seafood’s purchase of the Western Alaska Fisheries cannery in Kodiak, CEO Joe Bundrant declined to reveal the sale price, saying as a privately-owned company, they preferred to keep such information private. 

However, the company Trident purchased Western from, Japan-based Maruha Nichiro, is a publicly-traded company, and as such must report its financial dealings. 

On Monday, the company released its 2014 net profit estimates and reports the sale price for the Western Alaska plant in Kodiak was $37-million. Maruha Nichiro also placed the value of the Western plant at $11-million.

The sale just about doubled the company’s net profit for the year from 5-billion Yen to 10-billion Yen. Last fiscal year, their net profit was 3.2-billion Yen.

Trident and Maruha Nichiro are expected to finalize the sale agreement today (Dec. 29).

These figures were first reported in the Japanese seafood trade website Minato-Tsukiji.com.