US: Trident-Pacific sale stuck on antitrust concerns

Trident Seafoods is pushing to sell its Pacific whiting processing plant in Newport, Oregon and the nearby meal plant to Pacific Seafood Group as the Pacific whiting season start quickly approaches May 15.

Trident publicly announced its plans to sell on May 10, stating it has “selected Pacific Seafood Group as the preferred buyer”, in a release.

However, the deal remains hung up on antitrust concerns, an issue that plagued Pacific during its multi-year attempt to acquire Westport, Washington-based processor Ocean Gold Seafoods.

Pacific is “willing and able to buy and operate the plant by May 15 and save the 147 jobs, if the (Oregon Department of Justice) provides assurance that the state will not object,” Pacific said in a statement, reaffirming hopes to support the Newport community it expressed in February.

If the ODOJ doesn’t give its blessing to the deal, waiting in the wings is Northwest Marine Products, a company founded in June of last year by Pacific whiting veteran Richard Carroll, who worked for Ocean Gold Seafoods for eight years until April of 2013.

According to Pacific, “If ODOJ takes eight weeks to review the proposed purchase, the plant will close.”

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