BBDF and Naknek Family Fisheries Partner to Form Wild Side Salmon, LLC
Supporting six generations of Alaska Native fisherman
The Bristol Bay Development Fund (BBDF), a subsidiary of Bristol Bay Native Corporation, is pleased to announce its fifth investment in a Bristol Bay-based business. BBDF and Naknek Family Fisheries, LLC, based out of Naknek, Alaska, are forming a new 50-50% partnership called Wild Salmon, LLC.
Naknek Family Fisheries has been owned and operated by Bristol Bay entrepreneur Izetta Chambers and her family members since 2006. The new business – Wild Side Salmon, LLC – will continue to use the Naknek Family Fisheries brand. BBDF investment dollars will be used to upgrade the existing fish plant facility, build an employee bunkhouse, and provide operating capital.
“This investment is exciting for several reasons,” said BBDF Manager, Cameron Poindexter. “Izetta Chambers is a BBNC shareholder and Alaska Native who has shown perseverance and a hard work ethic throughout the years prior to our investment for growth. We are excited about the fishermen this business will continue to support, the potential employment opportunities for BBNC shareholders, and the example this business sets for communities and individuals in Bristol Bay. Simply put, this business is a way for people who participate in this world-class fishery to capture more value for the local economy and is an excellent role model.”
Naknek Family Fisheries supports six generations of Alaska Native family fisherman and employs up to 15 people during peak processing season, with an emphasis on local and shareholder hire. The company offers a high-quality product line of fresh fillets, fresh frozen fillets, smoked retort packaged salmon, frozen H&G, and 100 percent wild smoked Bristol Bay sockeye salmon. All products are processed by hand and treated delicately from the process they use to catch the fish, to how the fish are handled in the manufacturing facility.
"It is extremely validating to have the support and expertise of BBDF and their amazing staff! For me, as a BBNC shareholder, it feels really good to be a part of BBDF's investment mix - the first processing investment it’s made in the region."
As part of its role as an investor and equity partner in the newly formed Wild Side Salmon, LLC, BBDF will be providing the tools, expert guidance, and support necessary for success. Izetta Chambers will continue managing the day-to-day operations of the business.
The Bristol Bay Development Fund launched in October 2014 and exists to be a catalyst for business growth and startups in the Bristol Bay region. The fund has a goal to invest $5 million within four years in businesses that participate in fisheries, transportation, agriculture, health and wellness, and energy. To date the fund has committed $925,000 for investment. The Bristol Bay Development Fund is a wholly owned subsidiary of Bristol Bay Native Corporation. Learn more about the fund at www.bbdf.net.