Pacificas seafood news article The Pacifica Seafold Company in the San Francisco Bay Area is in talks to acquire the iconic Pacifica fish processing facility, the company said Wednesday.
The deal, which is expected to close by the end of the year, will create a new global seafood processing and packaging operation.
Pacifica has about 3,500 employees and operates in 20 countries.
The company is also in talks with major fish processors and other seafood suppliers to expand its operations, Pacifica President Michael Gifford said.
Pacifica has been struggling to retain employees as it restructures its operations to meet changing market demands.
In the first quarter of 2019, Pacificas revenue fell by 4.4 percent, or $9.8 million, to $23.2 billion.
Giffords company has been under fire for moving to a new headquarters, a move critics say could harm the company.
Pacificas current facility in Marin, California, is undergoing extensive rehabilitation.
The factory closed in July 2019 and is being renovated to accommodate new equipment, Giffott said.
Pacificas next major expansion, expected to begin this year, is expected in Oregon.