The owners of North America's largest producer and marketer of canned tuna and sardines are setting up meetings with investment banks to appoint financial advisors who will run an auction for Bumble Bee which could fetch as much as $1.5 billion (€1.1 billion), according to Reuters.
Neither the company's owner, private equity firm Lion Capital, or CEO Chris Lischewski told IntraFish could confirm nor deny the tuna giant's impending sale.
"We can’t comment on these kinds of matters," Lischewski said.
However, Bumble Bee Foods Chief Financial Officer Kent McNeil said in a statement to Reuters refinancing is something the San Diego-based canned fish company said it was considering.
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