Bumble Bee Sale to Top Tuna Supplier Wins Court Approval

Bankrupt seafood canner Bumble Bee Foods won court approval to sell itself to the company’s indirect co-owner and main tuna supplier.

• An affiliate of Taiwan-based FCF Co. agreed to pay about $930 million for the biggest canned seafood brand in North America
• During a hearing in federal court in Wilmington, Delaware on Thursday, U.S. Bankruptcy Judge Laurie Silverstein said she would sign an order allowing the sale once lawyers finish making final changes to the documents
• The deal requires the buyer to assume responsibility for a plea agreement Bumble Bee signed with federal prosecutors, who had accused company executives of ...