Operating companies of San Diego, CA-based Bumble Bee Foods, a North America’s supplier of shelf-stable seafood will be acquired by funds advised by Lion Capital from Centre Partners Management LLC.
The transaction, whose amount remained undisclosed, is expected to be completed by the end of the year. Financing is being provided by JP Morgan, Wells Fargo, Barclays Capital and Jefferies.
Founded in 1897, Bumble Bee produces and markets shelf-stable tuna, salmon, sardines, clams and other specialty seafood products that are sold under the Bumble Bee, Clover Leaf, Brunswick, Snow’s, Beach Cliff, King Oscar and Sweet Sue brands.
The company’s products are sold at every major U.S. and Canadian food retailer and food distributor, including supermarkets, mass merchandisers, drug stores, warehouse clubs and dollar stores.
Bumble Bee currently has 1,700 employees across 8 facilities in the U.S., Canada and Puerto Rico and in 2009 generated over $940m of net revenue.
Commenting on the transaction, Chris Lischewski, Bumble Bee CEO, said: “We believe the combination of our strong brands and proven strategy with Lion’s consumer products expertise will support continued growth of our business and reinforce our market-leading positions in the US and Canada while we work to expand our global footprint”.