Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Lyndon Lea, Partner of Lion Capital. (Photo: Lion Capital/FIS)

Lion Capital works to acquire Bumble Bee

Click on the flag for more information about United States UNITED STATES
Friday, November 05, 2010, 23:50 (GMT + 9)

Lion Capital LLP has announced a deal whereby funds advised by Lion Capital will acquire Bumble Bee Foods’ operating companies. The owner of chief European frozen food company Findus Group, Lion Capital said the transaction will be finalised by year-end.

Bumble Bee, a portfolio company of Centre Partners Management LLC, is the top supplier of shelf-stable seafood in North America and one of the globe’s leading 10 branded seafood firms. It produces and markets shelf-stable tuna, salmon, sardines, clams and other specialty seafood products sold under the Bumble Bee and Clover Leaf brands, among others.

“We are excited about the opportunity to acquire one of North America's best-known consumer packaged goods companies and a portfolio of brands that enjoy unrivalled positions with US and Canadian consumers,” said Lyndon Lea, Partner of Lion Capital. “Led by the iconic Bumble Bee and Clover Leaf brands, the company has achieved an attractive record of consistent revenue growth and superior operating margins, even through economic downturns, through an unwavering focus on product quality, innovation and operational excellence.”

Chris Lischewski, Bumble Bee CEO, said he believes combining his company’s strong brands and strategy with Lion Capital’s consumer products knowhow will lead to ongoing business growth and boost Bumble Bee’s market-leading positions in North America while expanding its global reach.

Back in August, Bumble Bee informed that it had engaged JP Morgan Securities Inc as its financial advisor to explore several strategic alternatives available to it and/or its direct and indirect subsidiaries. 

That same month, the firm made a deal with Massachusetts-based Live Lobster Co, Inc, to sell the North America seafood company's former sardine manufacturing plant at Prospect Harbour, Maine. Live Lobster is assuming control of the plant and will expand its lobster supply, sales and distribution business into Prospect Harbour.

Prior to that, Bumble Bee closed down the last sardine cannery in the US in April following drastic government cuts to the amount of herring fishers can now catch in the northeastern US coast due to overfishing.

Lion Capital – also owner of Birds Eye Iglo – began bidding for consumer goods group Unilever's Findus Italy for a venture value of some EUR 700 million earlier this year. Lion Capital bought Findus Group in 2008 for EUR 1.3 billion.

London-based investment firm Lion Capital has led the investment of over EUR 5 billion of equity capital in consumer businesses across Europe and North America totalling over EUR 19 billion of enterprise value. 

Bumble Bee sells its products at every major US and Canadian food retailer and food distributor. It employs 1,700 workers across eight facilities in the US, Canada and Puerto Rico and last year reached over USD 940 million of net revenue.

Related articles:

- Last US sardine cannery sold 
- Last US sardine cannery folds 
- Food groups, private equity go after seafood companies

By Natalia Real
editorial@fis.com
www.fis.com

 


 Print


Click to know how to advertise in FIS
MORE NEWS
United States
Feb 21, 03:00 (GMT + 9):
IN BRIEF - ASU startup uses a bucket of fish to grow produce
Australia
Feb 21, 03:00 (GMT + 9):
IN BRIEF - Department sends strong message on illegal fishing
United Kingdom
Feb 21, 03:00 (GMT + 9):
IN BRIEF - Fishing Republic says annual results will be in line with forecasts Share
United States
Feb 21, 03:00 (GMT + 9):
IN BRIEF - World Fish Oil Market: Wide-scale Development of Aquaculture Reveals Mammoth Opportunity for Growth
Worldwide
Feb 21, 03:00 (GMT + 9):
IFFO clarifies some issues regarding marine ingredients
Norway
Feb 21, 02:50 (GMT + 9):
IN BRIEF - Cermaq - #1 in transparency on sustainability – presents Q4 performance
China
Feb 21, 02:50 (GMT + 9):
IN BRIEF - Alltech continues commitment to aquaculture research
Nigeria
Feb 21, 02:50 (GMT + 9):
IN BRIEF - Fish insufficiency: Expert tasks FG to provide tight security for aquatic farmers
United Kingdom
Feb 21, 02:30 (GMT + 9):
Scottish companies receive GBP 6 million from EMFF
Peru
Feb 21, 02:20 (GMT + 9):
Fishing for human consumption generates USD 908 million in exports
Japan
Feb 21, 02:00 (GMT + 9):
IN BRIEF - Fisheries Agency to punish violators of bluefin catch limits from 2018
Worldwide
Feb 21, 01:50 (GMT + 9):
ASEAN could generate 24pc of global fish production in 2030
Netherlands
Feb 21, 00:40 (GMT + 9):
Dutch producer opens fish feed factory in Egypt
Spain
Feb 21, 00:30 (GMT + 9):
Spanish and Portuguese canneries join forces to boost their competitiveness
Iceland
Feb 20, 23:50 (GMT + 9):
Fishermen strike ends



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Fluorescent polymer detects mercury contamination in fish
Spain Researchers at the University of Burgos have manufactured a fluorescent polymer, called JG25, capable of detecting the presence of mercury, in both organic and inorganic form, in fish.
Global fisheries lose more than USD 80 billion a year, according to study
Worldwide A new report by the World Bank confirms that overexploitation is not a good strategy to manage a renewable natural resource like fish stocks, for steady profits, reliable jobs and long-term growth.
New World Currents satisfied with its results and perspectives
Chile The results obtained by New World Currents were highly satisfactory, according to its executive director, Eduardo Goycoolea.
Government proposes plan to resolve fishermen's strike
Iceland The Minister of Fisheries and Agriculture met with negotiating committees of Icelandic fishermen and representatives of fisheries after a full day of negotiations.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Nueva Pescanova, S.L. - Group Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
Food Project (Siam) Co., Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. -Headquarter-
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  -Holding Headquarter-
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
Ocean Trawlers Group - Ocean Trawlers HK Ltd.
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2017 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER