San Diego, CA (July 30, 2010) – Bumble Bee Seafoods, L.P. (the “Company”) today announced that it has engaged J.P. Morgan Securities Inc. as its financial advisor to explore various strategic alternatives available to the Company and/or its direct and indirect subsidiaries. Strategic alternatives may include, but are not limited to, a sale of all or substantially all of the business of the Company and/or its direct and indirect subsidiaries, a merger or other business combination or a sale of all or substantially all of the Company’s assets.
The Company does not intend to disclose developments with respect to the strategic review process until it has approved a definitive transaction or strategic option, unless otherwise required by law.
About Bumble Bee Seafoods, L.P.
The Company is one of North America’s oldest and best-known consumer packaged goods companies with a leadership position in nearly every segment of the U.S. and Canadian shelf-stable seafood categories. The Company produces and markets shelf-stable tuna, salmon, sardines, clams, and other specialty products that are sold under the well-established Bumble Bee, Clover Leaf, Brunswick, Snow’s, Beach Cliff, King Oscar, and Sweet Sue brands.
Certain of the statements included in this press release, which express a belief, expectation or intention, as well as those regarding future financial performance or results, or which are not historical facts, are “forward-looking” statements as that term is defined in the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The words “expect,” “plan,” “believe,” “anticipate,” “project,” “estimate,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance or events and such statements involve a number of risks, uncertainties and assumptions, including, but not limited to, industry conditions, prices and availability of seafood generally, regulatory changes, general economic conditions, interest rates, competition, and other factors. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated in the forward-looking statements, which speak only as of the date hereof. The Company and its affiliates undertake no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.