Inside Alaska Business
Silver Bay Seafoods
Sitka-based Silver Bay Seafoods, in partnership with Bristol Bay Economic Development Corporation, acquired rival seafood processor OBI Seafoods. The takeover covers plants in Petersburg, Cordova, Seward, Kodiak, Larsen Bay, Naknek, Egegik, and Wood River, as well as a warehouse in Kent, Washington. OBI was formed by the 2020 merger of Ocean Beauty Seafoods and Icicle Seafoods. Silver Bay is acquiring Icicle’s stakes in OBI; Bristol Bay Economic Development Corporation acquired half the stakes in Ocean Beauty Seafoods in 2007. Silver Bay is a fishermen-owned company that operates thirteen plants in Alaska and on the West Coast.
Aleut | SpinLaunch
Rockets are so 20th century; the new hotness, according to orbital aspirants SpinLaunch, is flinging payloads into space with a hypersonic centrifuge. The California-based startup announced in April that it finalized a lease agreement with Alaska Native regional corporation Aleut to assess the development of a satellite launch facility on Adak Island, repurposing some former US Navy infrastructure. SpinLaunch has accelerated suborbital payloads up to 5,000 miles per hour with a test launcher in New Mexico; the Adak facility, if built, would be three times as large, a centrifuge as wide as a football field.
Doyon, Ltd. | Huna Totem Corporation
The tourism joint venture between Doyon, Limited and Huna Totem Corporation is buying Portage Glacier Cruises. The acquisition is the third Na-Dena` investment since the joint venture was formed. In 2022, Na-Dena` acquired an 80 percent stake in Alaska Independent Coach Tours, and a partnership with Klawock Heenya Corporation the following year developed a cruise ship destination on Klawock Island, which welcomed its first ships in 2024. Huna Totem already has a foothold in the Portage Glacier area, investing in the Chugach Glacier Gateway cruise ship terminal on the other side of the tunnel to Whittier. Separate from the joint venture, Huna Totem also received a waterfront lease from the City and Borough of Juneau in April to develop a fifth cruise ship dock in the capital city by 2027.
Broadway Alaska
The curtain closed early for Broadway Alaska. The co-production of the Alaska Center for the Performing Arts and The Nederlander Organization decided to “pause” any further shows, including the return of The Lion King, after a tour stop for TINA-The Tina Turner Musical was canceled in February. General Manager Codie Costello cited increased expenses related to deferred maintenance of the Atwood Concert Hall. Broadway Alaska formed in 2022 to bring top-flight stage shows to Anchorage, starting with Hamilton in 2023.
Carrs-Safeway
From a Quonset hut in 1950, Larry Carr’s original supermarket on Gambell Street expanded into a statewide retail institution. That store is no more, shut down this spring. Carrs-Safeway cited failure to grow as a reason for the contraction. Pharmacy prescriptions were transferred to the next-closest location, the Carrs-Safeway store about 1 mile south at the Midtown Mall, one of eight locations the retailer is maintaining in Anchorage. Meanwhile, Fairview Community Council members suggest finding another grocer to serve the neighborhood from the building.
Three Bears Alaska
From zero grocery stores in 2022 and 2023 (due to a roof collapse at the local IGA Food Cache), Delta Junction now has two. IGA rebuilt in 2024, at the same time Three Bears Alaska acquired a convenience store site. The Wasilla-based chain kept contractors working through the winter to renovate the property, which opened this spring as its thirty-first location. The 28,000-square-foot store sells groceries, gas, and outdoor gear. Also this spring, the company won the 2024 Golden Carrot Award from the Alaska Grown program for supporting local produce.
Santos | ConocoPhillips
A commercial agreement lets Santos continue using roads across the Kuparuk River Unit to reach Pikka and other prospects. A dispute arose in 2023 when Santos committed to invest in Pikka and offered ConocoPhillips $60 million for twenty years of road access; ConocoPhillips countered with $95 million, citing upkeep costs. The Alaska Department of Natural Resources awarded a permit to let Santos use the 75-mile road without paying, and ConocoPhillips challenged the permit in court. Santos agreed to withdraw from the court case, which is still pending, and a dollar value for the maintenance agreement was not disclosed.
Graphite One
Exploration drilling shows far more recoverable graphite from a deposit north of Nome than Canadian developer Graphite One anticipated. According to the company, a deposit with 317 percent more graphite than previously measured would enable scaled-up operations without increasing fixed costs. Pending permit approval, the mine could open by 2029.
Great Alaskan Holidays
Motorhome maker Winnebago Industries recognized Alaska’s largest RV sales and rental company with the Flying W award as a top-performing dealer. Great Alaskan Holidays received the honor at the Recreation Vehicle Dealers Association conference in Las Vegas. “Receiving the Winnebago Flying W Award is a tremendous honor for our team and a reflection of our commitment to delivering world-class experiences to our customers,” says Bob Johnson, director of marketing. “As we celebrate our 40th anniversary, this award reinforces our long-standing partnership with Winnebago and highlights the hard work, passion, and dedication of our entire team.”