News | May 4, 1999

Trident to Acquire Sea Legs Brand and Processing Plant

Trident Seafoods Corp. (Seattle) has signed an agreement with Nichirei Foods, Inc. and Nichirei Foods America (NFA) to acquire NFA's plant in Fife, WA, which produces surimi seafood and the premier imitation crab brand, Sea Legs.

"This marks the first phase of Trident Seafoods' aggressive new branding strategy," announced Joe Bundrant, VP of sales and marketing of Trident Seafoods.

Gary Bettencourt, president of Nichirei Foods America, said he views the acquisition by Trident Seafoods as a "win-win" for employees of both companies as well as for customers. "Over the past several years, Nichirei Foods America has worked hard to create an efficient, top-of-the-line operation," Bettencourt said. "We have a brand that has a great reputation nationwide. Trident, with its extensive distribution channels and access to the resource, will significantly enhance the brand," he added. "It's a good move for both companies."

The transaction is expected to close some time in mid-May, subject to government approval. Terms of the deal were not disclosed.

Founded in 1973, Trident Seafoods catches, processes and distributes Pacific seafoods to national restaurant chains and foodservice distributors across the country and internationally. The acquisition of Sea Legs when completed will expand its value-added offerings and support the company's branding strategy with a known and respected product. Trident Seafoods currently is a leading producer of surimi used in products such as Sea Legs.