June 29, 2015 — Indonesian business family the Soetantyos are set to become the latest foreign investors in US fishing and seafood, with the acquisition of Icicle Seafoods.

The Soetantyos, whose former holding company PT Management Trust (Mantrust) owned US shelf stable seafood brand Chicken of the Sea until 1993, were reportedly also involved in the recent sales process of Bumble Bee Foods, sources told Undercurrent News.

Icicle’s impending sale to Indonesian investors the Soetantyos, in a deal expected to complete in August 2015, comes amid a high level of interest in the US fishing sector from foreigners. In April, Swiss-owned fund Bregal Partners’ closed a deal Virginia-based scallop fishing company Peabody Corp., after Undercurrent reported the talks in February.

On May 11, Undercurrent broke Oceana Group’s interest in a deal for Daybrook Fisheries, a US menhaden catching firm. On May 19, Oceana confirmed the $382.3 million deal.

Then, Canada’s Cooke family, who control Cooke Aquaculture, closed a deal for US-based scallop catcher Wanchese Fish Company on June 5. Undercurrent first reported Cooke’s interest in Wanchese, which also controls vessels in Argentina, in November 2014.

Also, Kjell Inge Rokke, the Norwegian billionaire, is also being linked to an investment return to the highly leveraged American Seafoods Group, which he created.

Then, in a revelation that surprised some, Undercurrent reported on June 17 that the Soetantyos were the frontrunner in the sale process of Icicle, after interest from other foreign seafood companies and investors, such as Thai Union Frozen Products, Cooke, Mitsubishi and Marine Harvest.

Read the full story at Undercurrent News