Welcome to FIS   Sponsored By
United States
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
Spain
Sep 17, 23:40 (GMT + 9):
Galician polygons closed due to red tide
India
Sep 17, 23:20 (GMT + 9):
Mussel culture looks encouraging in Goa
European Union
Sep 17, 22:40 (GMT + 9):
Moroccan authorities already issued 58 licences for EU vessels
Chile
Sep 17, 22:10 (GMT + 9):
Chilean firm stance against IUU fishing
United Kingdom
Sep 17, 04:20 (GMT + 9):
New codes to boost seafood labels and sustainable supply
Chile
Sep 17, 03:50 (GMT + 9):
Norwegian salmon firms focus on investments in Chile
Papua New Guinea
Sep 17, 03:30 (GMT + 9):
IN BRIEF - PNG govt see PMIZ as fisheries solution
Faroe Islands
Sep 17, 03:30 (GMT + 9):
IN BRIEF - Faroe Islands and Turkey make Free Trade pact
Nigeria
Sep 17, 03:30 (GMT + 9):
IN BRIEF - Firm to Inject USD 60 Million Into Aquaculture
Japan
Sep 17, 03:30 (GMT + 9):
IN BRIEF - Focus of tuna conservation turns to Eastern Pacific
United Kingdom
Sep 17, 03:30 (GMT + 9):
IN BRIEF - Is it Fish Fraud-y? One in six cod suppers sold in chip shops is actually a cheaper type of fish, says food safety expert
Viet Nam
Sep 17, 03:00 (GMT + 9):
IN BRIEF - GAA To Honor Vietnamese Seafood Champion
United Kingdom
Sep 17, 03:00 (GMT + 9):
IN BRIEF - Make it a Funky Fish 'Fall' with new dishes from Young's Seafood
Thailand
Sep 17, 03:00 (GMT + 9):
King Oscar to be fully owned by new TUF's holding company
United Kingdom
Sep 17, 02:50 (GMT + 9):
IN BRIEF - Scottish independence: Herring boss funds last-minute GBP 100k Yes campaign drive



Lenguaje
FEATURED EVENTS
  
TOP STORIES
TUF buys Norwegian sardine canner to strengthen its global leadership
Thailand Thai Union Frozen Products Public Company Limited has announced that it has entered into an agreement to acquire 100 per cent of the assets and the trademark of the world's top ten seafood brand: King Oscar.
Campeche seeks investment in shrimp farming
Mexico The Gobernment of Campeche is trying to attract investors from the United States who are interested in shrimp farming in the state in order to increase production of this crustacean.
Organised gangs get huge profits from illegal shellfish trade
United Kingdom Scotland Police warn that illegal fishing of shellfish is profiting eastern European offenders, who make up to GBP 65,000 a day.
Cod cut would increase discards, Shetland fishermen warn
United Kingdom Fishermen in Shetland are urging the EU and Norway to abandon a controversial cod management plan and increase North Sea quotas to help reduce dumping of healthy fish at sea.
 
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 (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Pescanova, S.A. - Group Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Limited
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 ehf - 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-
Grupo Calvo - Luis Calvo Sanz, S.A. (Group 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
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 - 2014 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER