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May 23, 2006

US: Bumble Bee links up with Sea Value

Bumble Bee Foods has entered into an agreement to invest in Thai tuna processor Sea Value.

Bumble Bee Foods has entered into an agreement to invest in Thai tuna processor Sea Value.

It has entered into a supply arrangement with Sea Value to acquire canned tuna and frozen tuna loins, and develop process technologies together.

Sea Value has also set up supply arrangements with FCF Fishery Company, of Taiwan, and Itochu, of Japan, to ensure a reliable supply of raw materials.

Bumble Bee president and CEO Christopher Lischewski said: “By investing in Sea Value, Bumble Bee will formally establish a processing footprint in a region that is highly strategic to our business.

“We are very pleased to commit to this investment in Sea Value, particularly as the company has an exceptional management team that will help Bumble Bee realise its long-term strategy of being a low cost provider of shelf stable tuna products.”

San Diego-based Bumble Bee, the US subsidiary of Connors Bros. Income Fund, offers a full line of canned tuna, salmon, sardine, and specialty seafood products marketed under the Bumble Bee, Clover Leaf, Brunswick and Beach Cliff brands.

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