Thai Union's $1.5B Bumble Bee Seafoods acquisition tanks

Dive Brief:Global seafood manufacturerThai Union Team will will zero longer end up being pursuing any $1.5 billion buy of Bumble Bee Seafoods due to Justice Department - - antitrust concerns.
"We have made a determination to emphasis our power on our existing business," based on Thiraphong Chansiri, Thai Union's president. "Thai Union remains dedicated towards the North American seafood market."
The deal might have place collectively the second- as well as third-biggest shelf-stable tuna makers in the U.S. The Particular StarKist Co. is actually No. 1.
Dive Insight:The organization initially revealed the particular proposed deal per year ago. Thai Union declared it along with Bumble Bee's owner, Lion Capital, found a new - Diet Plans For Women - mutual decision to stop the acquisition.The deal marks yet another failed acquisition next your government's scrutiny, which includes Sysco's bid pertaining to US Foods.AKrungsri Securities PCL analyst mentioned the sale can become a loss with regard to Thai Union, that ended up being trying to bump revenue through an anticipated $4 billion in 2015to $8 billion by simply 2020. Your Bumble Bee purchase might have brought a 25% income uptick, according to the company.recommended reading the Wall Street Journal: Tuna Leaders call Off Acquisition deal on Antitrust Concerns Top Image Credit:Brian Warmoth