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Pacific Seafood backs away again from trying to acquire Ocean Gold in Westport

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Pacific Seafood has again backed away from attempts to acquire Ocean Gold Seafood of Westport. In dropping their acquisition of Ocean Gold, Pacific Seafood officials said that they’d rather be spending resources and energy working cooperatively with the fishing community rather than fighting in the courts with some of them.

It’s the second successful legal challenge by Oregon coast fishermen who won a similar case against Pacific Seafood back in 2012. The heart of the issue is the idea that strong market control among a few large fish processing companies can act together to hold down prices offered for fish landed on their docks. The more control, the lower the prices offered.

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Fishermen’s attorney, Michael Haglund, told News Lincoln County that although Pacific Seafood told the court that their plan to acquire controlling stock in Ocean Gold is now “Dead and gone, it is no more,” the fishermen are still pursuing their lawsuit against Pacific Seafood to ensure a third attempt isn’t launched down the road.

Meanwhile Pacific Seafood officials say that it was never their intent to jeopardize their relationship with the fishing community – that they’re committed to working cooperatively with them. Ocean Gold’s President Mark Rydman said in a statement, “We’re disappointed that this great opportunity for Ocean Gold, its employees, our community and my family will not proceed. Ocean Gold will continue to support our fishermen, employees and community as we have for the past 20 years.”

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