November 10/Food & Beverage Close-Up -- Lion Capital announced that an agreement has been reached whereby funds advised by Lion Capital will acquire the operating companies of Bumble Bee Foods, a portfolio company of Centre Partners Management.

Bumble Bee is a North American supplier of shelf-stable seafood and one of the world's top 10 branded seafood companies. The transaction is expected to be completed by year-end.

Bumble Bee focuses on the U.S. and Canadian shelf-stable seafood market. The company produces and markets shelf-stable tuna, salmon, sardines, clams and other specialty seafood products that are sold under the Bumble Bee, Clover Leaf, Brunswick, Snow's, Beach Cliff, King Oscar and Sweet Sue brands.

Bumble Bee's diverse product offering is sold at every major U.S. and Canadian food retailer and food distributor, including supermarkets, mass merchandisers, drug stores, warehouse clubs and dollar stores. The company has 1,700 employees across eight facilities in the U.S., Canada and Puerto Rico and in 2009 generated over $940 million of net revenue.

From the November 29, 2010, Prepared Foods E-dition