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
[email protected]
www.fis.com

 


 Print


Click to know how to advertise in FIS
MORE NEWS
United States
Dec 6, 07:00 (GMT + 9):
IN BRIEF - FDA: Phil-Am Trading, Inc. Recalls Phil-Am Smoked Mackerel Because of Possible Health Risk
United States
Dec 6, 06:00 (GMT + 9):
IN BRIEF - FDA: Royal Seafood Baza, Inc. Recalls Various Ready to Eat Herring Products | Possible Health Risk
China
Dec 6, 02:20 (GMT + 9):
China’s disappearing fish suggest bigger food-safety concerns
United States
Dec 6, 02:00 (GMT + 9):
Fishing ban in international Arctic waters remains elusive
Japan
Dec 6, 01:10 (GMT + 9):
Volunteer group continues checking fish off Fukushima as radiation levels drop
China
Dec 6, 00:40 (GMT + 9):
U.S. Coast Guard wants a bigger role in patrolling the disputed waters
Worldwide
Dec 6, 00:30 (GMT + 9):
United Nations to vote World Tuna Day this week
Chile
Dec 5, 23:50 (GMT + 9):
More than 100 artisanal shipowners complain against the Undersecretariat of Fisheries
Chile
Dec 5, 23:40 (GMT + 9):
Marine Harvest would add 500 salmon
India
Dec 5, 23:00 (GMT + 9):
IN BRIEF - No formalin in imported fish, says Mizoram health department
United Kingdom
Dec 5, 23:00 (GMT + 9):
IN BRIEF - Mystery as thousands of fish wash up on Cornish beach
Argentina
Dec 5, 23:00 (GMT + 9):
Govt formalizes reimbursement elimination by decree but refunds rise
United Kingdom
Dec 5, 22:50 (GMT + 9):
IN BRIEF - Exposed: the abusive pirates trying to avoid fishing laws
Worldwide
Dec 5, 22:40 (GMT + 9):
Only 9.1 per cent women’s representation at seafood industry senior level
United States
Dec 5, 21:40 (GMT + 9):
Indigenous seafood consumption 15 times higher per capita than national averages



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Pingtan adds two new jiggers to its fleet
China Global fishing company Pingtan Marine Enterprise Ltd. has completed construction on its two squid jigging vessels, which are ready to depart for their fishing designation.
Cadiz Port Authority grants sole farming centre permit
Spain The Port Authority of the Bay of Cadiz has granted the firm Epic Aqua Solea Acuicultura SL an administrative permission for the construction of the first phase of an intensive sole farming centre in El Puerto de Santa Maria.
Maersk Line strengthens growth strategy through Hamburg line acquisition
Denmark Maersk Line is to acquire German container shipping line Hamburg Süd after reaching an agreement with Oetker Group in an attempt to develop its growth strategy and increase transport volumes.
USD 36 million seafood smuggling operation discovered
China A case involving 3,000 tons of smuggled frozen seafood worth USD 36 million was discovered and several suspects are being prosecuted, as it was reported by the customs authority.
 
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 - 2016 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER