Paine & Partners, LLC, a global private equity investment firm focused on investing in food and agribusiness, and Icicle Holdings, Inc. has announced that the agreements to sell Icicle to Convergence Holdings, Inc. and Dominion Catchers, LLC have been terminated.
Icicle noted that its diversified business and operations remain strong and that they continue to be well-positioned in the North American seafood sector. The company also noted that it is experiencing positive performance across its business units, driven by strong volumes during the 2015 wild salmon season and excellent operational performance, coupled with an improved pricing environment for its farmed Atlantic salmon business.
Paine & Partners intends to reinitiate a sale process for Icicle upon completion of the 2015 salmon season. Paine & Partners and Icicle do not intend to disclose developments regarding the sale process until a transaction is announced.