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Pacific Seafood plant in Newport, Oregon. (Photo: Pacific Seafood)

Pacific Seafood withdraws plan to buy Ocean Gold

  (UNITED STATES, 1/29/2015)

In response to a new lawsuit filed by commercial fisherman questioning Pacific Seafood Group's monopolistic practices, the company announced it has withdrawn its plans to buy Ocean Gold Seafoods Inc.

Daniel Occhipinti, the company general counsel and director of government affairs said the firm was unwilling to spend more time and money in the litigation, and therefore, had given up the purchase project.

However, the plaintiff party is planning to move forward with the lawsuit, as the fishermen want a court order forbidding the purchase or the control of the company by Pacific Seafood.

The lawyer for the fishermen, Michael Haglund, stated, “They’re not willing to stipulate that they won’t acquire Ocean Gold. They’re just saying the transaction is terminated for now,” Associated Press reported.

On the other hand, Mark Rydman, the president of Ocean Gold Seafoods expressed in a statement, “We're very disappointed that this great opportunity for Ocean Gold, its employees, our community and my family will not proceed.”

Clackamas-based seafood processor has an exclusive marketing agreement with Ocean Gold that has run for 15 years, and expires in February 2016.

Pacific Seafood had faced a collective lawsuit a few years ago, for alleged monopolistic business practices. The settlement reached in 2012 provided that:

  • A contract between Pacific Seafood and Ocean Gold would not be renewed in 2016 in order to possibly create a new fish-processing competitor.
  • Pacific Seafood and Ocean Gold would report prices in a more transparent fashion, if other processors agreed to do the same.

A hearing on a temporary restraining order is scheduled for early February.

Pacific Seafood has bought 18 seafood-processing plants in Northern California, Oregon and Washington, and is the only buyer of seafood in seven coastal cities. The company has its own fishing fleet.

Relatd article:

-
Pacific Seafood faces another anti-trust lawsuit

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Information of the company:
Address: 16797 Southeast 130th Avenue - PO Box 97
City: Clackamas
State/ZIP: Oregon (97015)
Country: United States
Phone: +1 503 905 4500
Fax: +1 503 905 4243
E-Mail: [email protected]
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