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Silver Bay drops Tri Marine plant acquistion

The decision follows several months of discussions between the companies.

Silver Bay Seafoods and Tri Marine Fish Company have agreed to cease further discussions regarding Silver Bay’s acquisition of the coastal pelagic processing plant in San Pedro, California, the companies announced Wednesday.

Company profile: Tri Marine Group

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The decision follows several months of discussions between the companies and is unrelated to the Bolton acquisition of Tri Marine’s tuna supply chain announced earlier this month, a Silver Bay statement said.

The San Pedro plant situated within the Port of Los Angeles will remain under the management and control of Renato Curto. He remains owner and CEO of the plant and a subset of companies not included in the Bolton sale, according to Tri Marine.

What lies ahead for Tri Marine CEO Renato Curto?

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The processing plant is capable of freezing more than 300 metric tons a day of squid, sardines, anchovies or mackerel and can export its products using refrigerated container services.

Silver Bay declined to comment further to IntraFish, but said last October the acquisition was meant to complete the company’s vision of owning and operating unloading and processing facilities in both northern and southern California.

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