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TUF Withdraws Bumble Bee Offering Following Antitrust Investigation

Crustaceans Sustainability Economics +4 more

THAILAND - Thai Union Frozen Products (TUF) has suspended its public offering for the acquisition of Bumble Bee Seafoods due to an antitrust investigation.

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Tri-Union Seafoods LLC (Tri-Union), a subsidiary of TUF operating a packaged seafood business in the United States under the brand Chicken of the Sea, has received a subpoena from the US Department of Justice (DOJ).

The order requires Tri-Union to provide relevant information to the DOJ in relation to an antitrust investigation of the packaged seafood industry in the United States.

Tri-Union is fully cooperating with the DOJ in such investigation.

At this stage, neither TUF nor any of its subsidiaries in the US have been charged with any illegal or criminal act.

However, TUF said it is unable to determine at this time what effect (if any) the subpoena may have on its business and planned acquisition of Bumble Bee.