New York-based Paine & Partners, LLC and Icicle Holdings, Inc., Wilmington, Del., entered into agreements to sell Icicle to Convergence Holdings, Inc., Hallandale Beach, Ill., and Dominion Catchers, LLC, St. Petersburg, Fla. Under the transactions, Convergence will acquire Icicle's land-based wild seafood processing and farmed salmon activities, and Dominion will acquire the company's harvesting and processing vessels as well as the associated fishing rights.
Convergence and Dominion will enter into long-term contracts to continue Icicle's diversified seafood operations following the completion of the transactions. Financial terms of the transactions and of the agreement were not disclosed.