December 11, 2013

 

Bumble Bee Foods is expanding into a new area with the acquisition of US-based Anova Food, a sushi-quality tuna distributor.

 

The deal follows the canned seafood giant, which has turnover of just under US$1 billion, expanding into frozen seafood in June, with a new product line backed by a big ad spend.

 

Anova, which is not connected to Anova in the Netherlands, has plants supplying fresh and frozen tuna from Indonesia and Vietnam for sale in the US, said Chris Lischewski, CEO of Bumble Bee, which is backed by private equity Lion Capital.

 

Lischewski declined to reveal any value or terms for the deal or financials for Anova. The deal closed Friday, (Dec 6), he said.

 

"We're looking for new areas to grow. We met with Darren Zobrist, Anova president and his team and we see that their model and approach fits with Bumble Bee," he said.

 

Zobrist and his team will stay in place and the company will be kept as a separate entity from Bumble Bee, with a board of executives from both companies, said Lischewski.

 

Anova offers Bumble Bee new markets in foodservice, as well as the chance to expand in frozen imported tuna in retail, through Bumble Bee's contacts, he said.

 

Bumble Bee, the largest shelf-stable seafood company in North America, which was bought by Lion Capital for US$980 million in late 2010, can also offer Anova some financial strength as well as benefits on sourcing, said Lischewski.

 

Anova is also involved in the Fishing & Living initiative, intended to drive positive change in tuna fisheries in Asia. This sustainability in tuna was also something that got Lischewski's attention, because of his and the company's involvement in the International Seafood Sustainability Foundation.

 

"The acquisition of the premier Anova brand and intellectual property fits well with our own corporate strategy of being the highest quality shelf stable brand in the US market," said Lischewski, in a statement. "Anova's commitment to global sustainability and fisheries management is also consistent with Bumble Bee's leadership in this area and made them a great fit to join the Bumble Bee family."