ConAgra Sells Bumble Bee to Management

SAN DIEGO - ConAgra Foods has sold its Bumble Bee Seafoods, Inc., subsidiary to Bumble Bee Seafoods, L.P. The acquisition, which was led by private investment firm Centre Partners Management LLC and its affiliates in partnership with Bumble Bee's senior management team, includes all key assets of Bumble including the Bumble Bee, Orleans, Clover Leaf, and Paramount brand names.

With over $500 million in annual revenue, Bumble Bee is the number one producer and marketer of canned albacore tuna, canned salmon, and specialty canned seafood products in the U.S. under the Bumble Bee brand. The company has the number two position in the overall tuna segment in the U.S., and is the canned seafood leader in Canada with its Clover Leaf brand.

"The decision by ConAgra to sell Bumble Bee is consistent with its strategy to shift the mix of its brands and businesses over time," said Christopher D. Lischewski, president and c.e.o. of Bumble Bee. "Under its new ownership, Bumble Bee will continue to pursue the expansion of its strong position in the global seafood market by capitalizing on its low cost operations, procurement strength, and well-recognized household brand names. Led by a strong management team and supported by a dedicated work force of approximately 3,000 people worldwide, Bumble Bee is a clear leader in the North American seafood industry."
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