The Union Frozen Products buys Bumble Bee Seafoods from Lion Capital, the private equity owner, for $1.5 Billion.
“I have always believed that Bumble Bee and Thai Union share a strong vision for innovation, operational excellence, sustainability and value for our consumers, making this combination good news for customers, consumers and the industry as a whole,” said CEO of Bumble Bee Chris Lischewski
In 2010 Lion Capital acquired Bumble Bee from Centre Partners, other private equity firm, for $980 million.
“The understanding is a largest merger in a story of a association and one of a many sparkling outmost expansion propositions,” Thai Union’s boss and CEO Thiraphong Chansiri pronounced in a statement.
The deal is expected to complete in the second half of 2015.
Mr. Stakebay says:
Bumble Bee is the largest canned seafood producer in North America and this combination will make even bigger company and add two of the top three tuna brands in the United States, behind Starkist.
President and CEO of Union Frozen……………….THIRAPHONG CHANSIRI………..2013-present
President and CEO of Bumble Bee Foods……CHRISTOPHER D. LISCHEWSKI…….1999-present