US-based tuna supplier Tri Marine is engaged in talks with Italy’s Bolton Group on a possible takeover.
Tri Marine chairman and chief executive Renato Curto has issued a statement following media reports that fellow canned tuna supplier Bolton is seeking to acquire the business, but stressed that at this moment in time “nothing has changed”.
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Bolton agreed to take joint control of Washington-based Tri Marine in 2013 along with CEO Curto. Tri Marine supplies retailers and foodservice channels and, as well as its namesake product offerings, its brands include Ocean Naturals, Soltuna, Choice Landing and Soloman Blue.
In a statement posted on Tri Marine’s website on Friday (5 April) Curto said: “Tri Marine has proudly served as a major supplier to Bolton Food for nearly four decades. Throughout the years we built a strong partnership with their group and in 2013, they confirmed the solidity of our business relationship by acquiring a significant minority interest in our group.
“Nothing has changed as of today. We continue to work together and seek synergies that would allow us to leverage our institutional knowledge and expertise. We have also been considering deepening the relationship between our groups. While conversations have been held for some time and are continuing, at this stage there is no agreement with respect to any possible change in ownership. Should the situation change, we will promptly inform our employees and business partners.”
Last year, Tri Marine sold a pelagic-processing factory in California to Alaska-based Silver Bay Seafoods as it sought to focus its operations on its “core” business of tuna supply in the global market.
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By GlobalDatajust-food has approached Bolton to comment on the potential transaction.
“I am as optimistic as ever about the future of Tri Marine,” Curto concluded in his statement.
