FCF Co. Ltd, one of the world’s largest integrated marine industry supply-chain service providers, announced that it had closed the acquisition of Bumble Bee Foods’ North American assets in a $928M transaction.
No changes were expected at seafood and protein company headquartered in San Diego, according to a news release.
“We are confident that Bumble Bee, under the thoughtful leadership of its president and CEO, Jan Tharp, will continue to build on its storied history of delivering innovative, high quality, and sustainable seafood products to customers,” said Max Chou, president of FCF, an international company, based in Taiwan.
“The company is poised for future growth and profitably, and we anticipate strong collaboration and interaction between FCF and Bumble Bee for the long-term,” Chou said.
FCF says it works with government and non-governmental organizations to ensure sustainability.
Bumble Bee Seafoods filed for Chapter 11 bankruptcy protection on Nov. 21, 2019 in U.S. Bankruptcy Court in Delaware. Bumble Bee said in a statement at the time that the move was a first step in selling the business to FCF Co.
Bumble Bee has had its headquarters in the historic Showley Bros. Candy Factory building in San Diego’s East Village since 2014. It moved there after spending 12 year years in Kearny Mesa.
The business traces its roots to 1899, to the Columbia River Packers Association in Astoria, Oregon. The business eventually opened a canning operation in San Diego, which at midcentury boasted a number of canneries, and was a hub for the tuna fleet. Tuna was the city’s third-largest industry during the 1960s, with almost 40,000 employees who caught, sold or processed fish, according to the Port of San Diego.
Brad Graves contributed to this article