Thirty western Alaska communities, along with two community development quota entities are anticipating a boost in their economic future in a buyout deal in which they are acquiring $35 million in opilio and king crab quotas, plus full ownership of seven crab vessels.
The buy-out of Mariner Companies in Seattle offers the rural communities a value equal to 3 percent of the total crab fishery, while Bristol Bay Economic Development Corp. will acquire four of the fishing vessels and Coastal Villages Region Fund will acquire three vessels.
The deal will allow the individual communities to boost revenues from the fisheries to provide more programs and benefits to residents, and more revenue to the CDQ groups who also provide benefits to these communities.
BBEDC will be the new owner of the Aleutian Mariner, Bristol Mariner, Nordic Mariner and Pacific Mariner. CVRF is acquiring the Arctic Mariner, Cascade Mariner and Western Mariner.
Kevin Kaldestad, a majority owner of the Marine Companies with Gordon Kristianson, said they are happy to pass the future of the company to local communities, their long-time partner BBEDC and CVRF.
Norm Van Vactor, CEO of BBEDC, said the transaction process has been a great opportunity to collaborate with CVRF in a unique way that benefits the communities they serve.
“After 30 years, this is a prime example of how to successfully evolve the CDQ program, providing significant economic growth opportunities for rural Alaska communities,” Van Vactor said. “Kevin, Gordon, and our crews have been amazing partners over the years and while we are sad to see them exit, their next chapters are well deserved. We look forward to continuing their examples of stewardship of this resource for generations to come.”
Eric Deakin, CEO of CVRF, said the deal will help meet critical needs of communities facing high poverty rates and lack of access to resources, along with the growing need for services in both regions.
“We welcome a new generation of Alaskan owners and operators fishing the Bering Sea and improving livelihoods here,” he said.
Levelock spokesman Alexander Tallekpalek and John Christensen, speaking for Port Heiden, also praised the deal for the benefits it will bring to their communities.
