Wards Cove Packing Company is a family-owned holding company with a diverse portfolio of operating assets and investments. The Company, which was founded in 1928, was best known as one of the largest Alaskan salmon processors, with nine plants located in Southeast and Western Alaska. The shareholders determined, as part of the family’s long-term strategy, that divestiture of the Company’s direct salmon processing operations would reduce the risk to the owners, as well as the personal financial commitment of family members.
Zachary Scott was engaged to assist the Company in selling its processing operations, and to manage relationships with major creditors while the assets were marketed and sold.
Zachary Scott succeeded in negotiating a series of favorable sale transactions within a five-month timeframe to satisfy all creditor obligations and preserve substantial value for the shareholders.