Bumble Bee Files for Bankruptcy With $925 Million Offer From Taiwan’s FCF

Bumble Bee files for bankruptcy after having pleaded guilty to canned tuna price-fixing conspiracy

Bumble Bee Foods LLC, one of the nation’s largest canned tuna providers, filed for bankruptcy protection Thursday with an agreement to sell its assets to Taiwan’s FCF Fishery Co. for roughly $925 million.

San Diego-based Bumble Bee, owned by London-based private-equity firm Lion Capital, said that a chapter 11 process will help facilitate the sale to FCF as well as “reduce its debt burden caused by recent and significant legal challenges.”

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