News Release

December 19, 2005: Unique investment consortium buys Tofino fish plant to build local sustainable fisheries

B.C.

NEWS RELEASE

Unique investment consortium buys Tofino fish plant to build local sustainable fisheries

December 19, 2005; Tofino, B.C. - An unprecedented group of local residents, outside investors, First Nations and a non-profit community development organization have purchased Trilogy Fish Co., a small processing plant and fresh seafood retail store in Tofino. Trilogy Fish is one of the last remaining working waterfront facilities in the resort community.

"For too long local residents on the West Coast have seen too much of their local resources harvested and shipped out of the community. With Trilogy Fish, we hope to reverse this trend. We want to see more jobs and income accruing to local fishermen, shellfish growers and First Nations who responsibly harvest our public resources," says Ian Gill, President of Ecotrust Canada.

Ecotrust Canada, a community development organization with offices in Vancouver, Courtenay and Tofino, facilitated Trilogy's purchase by local and outside investors to create a base for value-added processing of local fisheries and shellfish. The new shareholders also want to protect the facility from development pressure in a town that is experiencing an explosion of condo and resort building.

 

"Tofino has traditionally been a fishing village. We want to create sustainable quality seafood brands that reflect Clayoquot Sound"s cultural heritage, and keep fisheries as part of a local, diversified economy," says Brenda Kuecks, Director of Community Programs for Ecotrust Canada in Tofino.

 

Currently almost all of the seafood harvested and produced in Clayoquot Sound leaves the region. Local fishermen and shellfish growers often receive rock-bottom prices for their harvests with no opportunity to do local value-added processing, branding and marketing. Trilogy Fish Co. hopes to change this.

The company was started six years ago by local residents John and Donna Fraser in a 1,465-foot facility. Trilogy Fish Co. specializes in custom processing and smoking of salmon caught by sports fishermen. It also includes a wholesale and retail business, and a mooring dock.

The new owners plan to diversify its product range including local salmon, clams, crabs, oysters, gooseneck barnacles and halibut, and see opportunities to market quality seafood to local restaurants and resorts which are expected to grow by almost 50 percent over the next five years.

 

The 15 Trilogy shareholders include eight local residents, four outside investors, the Hesquiaht and Tla-o-qui-aht First Nations, and Ecotrust Canada. They are investing $1 million to purchase, upgrade and operate the fish plant and retail outlet. John Gilmour, formerly plant manager with Keltic Cold Storage in Port Hardy, has been hired as general manager and is also a shareholder.

"I look forward to meeting customers," says Gilmour, "and will strive to continue producing high quality seafood products for the West Coast communities."

Local residents and First Nations own a majority of the company, and Ecotrust Canada currently holds 20 percent of the shares in trust to be sold to other local investors. Ecotrust Canada and Vancity Capital are jointly financing the deal.

About Ecotrust Canada: Ecotrust Canada is a non-profit charitable organization whose purpose is to build the conservation economy, where economic opportunity improves rather than degrades social and environmental conditions. Founded in 1994, it is headquartered in Vancouver with field offices in Tofino and Courtenay. Its work has included expanding and strengthening the shellfish aquaculture industry in Clayoquot Sound, and financing local investors and employees to purchase Keltic Seafoods in Port Hardy in 2000. Visit www.ecotrustcan.org <http://www.ecotrustcan.org>.

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For more information contact:

Ian Gill, President of Ecotrust Canada in Vancouver, at tel: (604) 682-4141 ext. 22 or iang@ecotrustcan.org <mailto:iang@ecotrustcan.org>

Brenda Kuecks, Community Programs of Ecotrust Canada, in Tofino at tel: (250) 725-2536 or cell: (250) 701-2212 or brendak@ecotrustcan.org <mailto:brendak@ecotrustcan.org>

John Gilmour, General Manager of Trilogy Fish Co, in Tofino at tel: (250) 725-2233

 

FACT SHEET

 

Trilogy Fish Co.

§ Established in 2000 by John and Donna Fraser

§ Specializes in custom processing and especially smoking, freezing and packaging salmon caught by sports fishermen

§ Located at 630 Campbell Street next to the Weigh West Marina in Tofino, B.C.

§ Business includes a 1,465-square-foot federally licensed processing facility and retail store, and a dock with 16 moorage fingers

§ Revenues come from retail (60 percent), custom processing (30 percent) and wholesale to restaurants (10 percent)

§ Employs a general manager and up to three other employees during busy summer season

§ Operates from April to September, and one month during Christmas

§ New shareholders consist of eight local residents, four outside investors from B.C. and Alberta, the Hesquiaht and Tla-o-qui-aht First Nations, and Ecotrust Canada

§ Local residents own a majority of the company, with an additional 20 percent of shares to be sold to local investors

§ Total investment for the purchase, upgrade and operations of the facility is 1$ million

§ Financing provided by Vancity Capital and Ecotrust Canada

West Coast Fisheries

§ The Clayoquot Sound region, including Ucluelet, on the West Coast of Vancouver Island is one of the richest fisheries and shellfish aquaculture regions in B.C.

§ Major species harvested include groundfish, hake, halibut, sablefish, salmon, herring, geoduck, prawns, shrimp, dogfish and goose barnacles, among others

§ 12 non-native and First Nation oyster farms in Clayoquot Sound produce some 50,000 gallons of shucked oysters each year

§ According to a 2004 Ecotrust Canada study, Clayoquot Sound (including Ucluelet) suffered one of the largest losses of commercial fishing licences on the coast between 1994-2002, a decline of 61%

§ In 2002, local residents in the Ucluelet-Tofino area owned less than 2 percent of individual fishing quotas in B.C.

§ Trilogy Fish Co. is the only custom fish processor in Tofino

§ Some 15,000 sports fishermen visit the Ucluelet-Tofino area every year

 

 

Eric Enno Tamm
Communications Manager
t: 604.682.4141 x 24 
f: 604.682.1944

Ecotrust Canada
Building the conservation economy
www.ecotrustcan.org

Topic(s): Enviro News Releases, Fist Nations News, Healthy Communities News, Member News , Ocean News, Sustainable Business, Wildlife News

Posted By EcoBC

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