Sealaska buys stake in Seattle seafood company

JUNEAU, Alaska (AP) – Southeast regional Native corporation Sealaska has announced the purchase of a minority stake in a Seattle-based seafood processor, marking its first transition into the seafood industry in nearly 30 years.

The Juneau Empire reports that Sealaska Chief Operating Officer Terry Downes declined to provide details on how much Sealaska is investing in Independent Packers Corporation. The purchase announced Monday comes a week after Sealaska released its annual report that showed a net income of $12 million in 2015.

Sealaska says Independent Packers Corporation is a custom-processing company that works primarily with red and king salmon.

The purchase is part of a new business strategy Sealaska started in 2012 that focuses on natural resources, natural foods and government services.

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Information from: Juneau (Alaska) Empire, http://www.juneauempire.com