Thai Union Group acquires Bumble Bee Seafoods for $1.5 billion
SEAFOODNEWS.COM by John Sackton - Dec 19, 2014
The Thai Union Group, led by CEO Thiraphong Chansiri, has made the largest acquisition in its history, as it emerged as the winner in the sale of Bumble Bee Seafoods by Lion Capital. TUF will pay $1.5 billion.
Bumble Bee has annual sales of about $1 billion, and an estimated EBITDA $145 million. The sale represents a value of 8.6 times EBITDA.
Thiraphong, speaking to reporters in Bangkok, said the acquisition will boost TUF's revenue over $5 billion in 2015, and puts the company on track to reach its goal of $8 billion in sales by 2020.
TUF has made a string of acquisitions...
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