Alakaʻina Foundation Family of Companies Announces Acquisition of For-Profit Entities by Bering Straits Native Corporation and the Establishment of New Charitable Trust

HONOLULU — The Alakaʻina Foundation Family of Companies today announced that its for-profit entities have been acquired by Bering Straits Native Corporation (BSNC), an Alaska Native Corporation headquartered in Nome, Alaska. The newly formed holding entity, Bering-Alakaʻina Holdings LLC, brings together two Indigenous-led organizations united by a shared commitment to community stewardship, long-term wellbeing and values-driven leadership.

"We are honored to join the BSNC family," said Craig Floro, CEO of the Alakaʻina Family of Companies and Alakaʻina Foundation board member. "BSNC's commitment to stewardship, community wellbeing and long-term vision aligns closely with our own. This union positions us to serve our communities with even greater purpose and permanence."

"This strategic acquisition strengthens BSNC's portfolio of companies, expands its geographic reach and significantly enhances our ability to serve our customers," said Dan Graham, CEO of BSNC. "Alakaʻina leadership will continue leading their operations and ensuring a seamless integration. We are pleased to welcome more than 1,300 employees into the BSNC family of companies."

In conjunction with the acquisition, the Alakaʻina Foundation announced the establishment of a new charitable trust dedicated to serving the native Hawaiian community in perpetuity — a milestone that marks a significant expansion of the Foundation's philanthropic capacity.

Kimo Bacon, chair of the Alakaʻina Foundation Family of Companies Board of Directors, said the transition represents a defining moment in the Foundation's history.

"For over two decades, our ability to serve the native Hawaiian community has been tied to market-driven revenue from our family of companies," Bacon said. "With the establishment of this new charitable trust, we are committing to a model rooted in long-term stewardship and kahiau — selfless giving grounded in our values. This trust strengthens our capacity to support ʻōlelo Hawaiʻi, education, technology, cultural preservation and community wellbeing, ensuring that Alakaʻina can uplift the lāhui for generations to come."

Floro said the acquisition will sharpen the Foundation's philanthropic focus. "This transition allows the Alakaʻina Foundation to focus fully on work that honors kūpuna, uplifts our keiki and strengthens our collective impact."

About the Alakaʻina Foundation The Alakaʻina Foundation is a Hawaiʻi-based nonprofit charitable trust dedicated to serving the native Hawaiian community through the support of ʻōlelo Hawaiʻi, technology and aloha ʻāina wellbeing initiatives grounded in the spirit of kahiau. Established as a charitable trust in 2026, the Foundation is committed to uplifting the lāhui for generations to come. For more information, visit alakainafoundation.org.

About Bering Straits Native Corporation BSNC is an Alaska Native Corporation that was established by the Alaska Native Claims Settlement Act of 1971. It is owned by more than 8,200 Alaska Native shareholders and actively pursues responsible development of resources and other business opportunities. Through its family of companies, BSNC serves the federal government and commercial customers throughout the Bering Strait region, Alaska, the United States and the world. Visit beringstraits.com.