TUF confirms interest in Bumble Bee Foods
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Thai Union Frozen Products is interested in buying Bumble Bee Foods from Lion Capital, said the Thai company's chief executive.
In an interview with Krungthep Turakij, Thiraphong Chansiri, president and chief executive officer of the Thai frozen food company, confirmed the deep interest in the acquisition.
TUF is now the world's largest producer of shelf-stable tuna products.
TUF and the Bolton Group were originally billed as the two frontrunners to acquire Bumble Bee, a company that produces canned tuna, salmon, other seafoods, and chicken. It is now headquartered in San Diego, California, United States.
According to Undercurrent News, which reported seafood business news, Bolton Group yesterday denied interest in buying the US company.
Reuters has reported the Bumble Bee sale could be valued at as much as US$1.5 billion.
It was reported in June that Lion Capital, a private equity firm, was planning meetings with investment banks to appoint financial advisors who will run an auction for Bumble Bee.
Since mid-1980s, Bumble Bee has gone through a number of ownership changes. In 1999, it was sold to Unicord, a Thai company which is now defunct.
