Tri Marine, a recognized leader in fishing, processing and distributing high-quality tuna products to the world’s markets, has announced the sale of its global tuna supply business to its longtime partner, Bolton Group.
Bolton Group has held significant minority interest in the Tri Marine global business since 2013. With this transaction Bolton Group now owns 100 percent of Tri Marine’s tuna supply chain business. The parties have agreed not to disclose the terms of the transaction.
Tri Marine, a privately held company, operates one of the world’s most far-reaching and sophisticated tuna supply businesses, with numerous subsidiaries around the globe. Bolton intends to retain the Tri Marine name and support the continued growth of the company.
Bolton Group is one of the main players in the international consumer goods market across various product sectors, such as food, home and personal care, adhesives and cosmetics. It is the European leader of the canned tuna market with globally recognized brands such as Rio Mare, Saupiquet and Isabel.
The longtime partnership between Tri Marine and Bolton Group has greatly improved the sustainability of tuna supply worldwide. Both companies are founding members of the International Seafood Sustainability Foundation (ISSF), the main reference point for sustainable tuna fishing.
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Since the management buyout in 1985, Tri Marine CEO Renato Curto has led the company to become one of the largest, most sustainable and socially responsible tuna supply companies in the world.
“Bolton has been a valued Tri Marine customer and partner for a very long time,” Curto said. “This transaction ensures our growth and success well into the future. It places Tri Marine employees, partners, suppliers and customers in highly capable hands. I am grateful that Bolton recognizes the strategic value of maintaining Tri Marine’s existing workforce, network of suppliers and global customer base. We can now focus on the group’s core business and continue to move in the direction that today’s world commands. I am proud of this transaction and know that Bolton is committed to our shared values of transparency, environmental and social responsibility, sustainability, quality and innovation.”
Curto will continue to serve as CEO of Tri Marine during a transition period.
Marina Nissim, CEO of Bolton Group, said, “We are proud of our longtime partnership with Tri Marine and welcome the company into our family. We look forward to this exciting new chapter of providing customers worldwide with the highest-quality, sustainably caught tuna. We will continue to build on Tri Marine’s legacy in the industry.”