Bumble Bee Foods said affiliates of FCF Co. has agreed to acquire the company's assets for approximately $925 million. To facilitate the sale, the company has initiated proceedings under chapter 11 of the U.S. Bankruptcy Code.
Bumble Bee said it has received new financing commitments from existing lenders that will provide sufficient liquidity to fund the business through the closing of the sale.
"It is our clear intent that all U.S. and Canadian operations continue uninterrupted. Employees will get paid, our customer partners can count on us to continue delivering outstanding brands and services, and vendors will be paid in the ordinary course of business," said Jan Tharp, CEO, Bumble Bee.
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