SeaFood Business

JAN 2014

SeaFood Business is the global trusted authority for seafood buyers and sellers. We are the seafood industry's leading trade magazine with more than 30 years of experience. Our coverage is based on the "business" of buying and selling seafood.

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U.S. News HOUSTON A merican foodservice giant Sysco Corp. bought longtime rival US Foods in a deal worth $3.5 billion. Each company's board of directors approved the transaction, which will create a merged frm worth approximately $8.2 billion. Bill DeLaney, Sysco's president and CEO, will lead the company, which will retain the Sysco brand and operate from the NEW YORK Captain D's sold to Centre Partners New York-based investment frm Centre Partners completed its acquisition of Captain D's. Te Nashvillebased QSR chain was previously owned by Sun Capital Partners of Boca Raton, Fla., which purchased Captain D's in 2010. Te terms of the transaction were not disclosed. Sun Capital also worked closely with the chain's management in its eforts on a new restaurant design and a revamped menu with improved food quality and an increase in the value customers receive for their money. In addition, Captain D's implemented new fnancial controls, an updated procurement 8 SeaFood Business January 2014 company's headquarters in Houston. "Sysco and US Foods have highly complementary core strengths including a broad product portfolio and passionate food people deeply committed to customer service, quality-assured products and safety," DeLaney says. "Combining and maximizing the signifcant strengths of two outstanding process and better labor management. "We're excited to invest in Captain D's and to partner with [CEO] Phil Greifeld and his executive team," says Bruce Pollack, managing partner of Centre Partners. "Captain D's diferentiated menu of high-quality seafood products at a value price point clearly distinguishes it from its competitors and the business is managed exceptionally well." Captain D's, founded by Nashville, Tenn., restaurateur Ray Danner in 1969, operates 521 restaurants in 26 states. SAN DIEGO Bumble Bee Foods buys Anova Food U.S. canned tuna giant companies is certain to be of tremendous advantage in supporting our customers as they tackle the challenges of today's demanding environment," adds John Lederer, president and CEO of US Foods. disclosed. "Bumble Bee Foods' acquisition of Anova Food will provide growth opportunities for both organizations within the retail and foodservice channels," Bumble Bee said in a statement. "Both companies anticipate signifcant synergies in the business model from a supply chain, resource and operations standpoint, centered on tuna that allows for highly competitive offerings." Chris Lischewski, Bumble Bee CEO, says the purchase of Anova's brand and intellectual property is a good ft. "Anova's commitment to global sustainability and fsheries management is also consistent with Bumble Bee's leadership in this area and made them a great ft to join the Bumble Bee family," he says. WASHINGTON, D.C. GSA affirms no need for third-party certification Bumble Bee Foods acquired sushi-quality tuna company Anova Food. Terms of the transaction were not Te U.S. General Services Administration (GSA) revised its guidelines to affrm that it will not rely on Photo courtesy of Sysco Sysco acquires rival US Foods Te transaction involves $3 billion in Sysco common stock and $500 million in cash. Sysco also took on US Foods' $4.7 billion in net debt. Sysco will combine staf, customers and suppliers of both companies. third-party certifcation programs to ensure American seafood is produced sustainably. Sen. Lisa Murkowski (R-Alaska) noted that GSA's sustainability guidelines once mentioned listing the Monterey Bay Aquarium Seafood Watch List or certifcation by the Marine Stewardship Council as the standard for sustainability. Now GSA guidelines merely say, "Where seafood options are ofered, provide those procured from responsibly managed, sustainable healthy fsheries." Murkowski praised the move. "Alaska has a sustainability mandate written in our constitution and we take our fsheries management pretty seriously," she says. "At the federal level, NOAA is the agency with expertise on confrming fsheries sustainability, and it was disturbing to me that they were not involved in the development of the GSA or the Park Service guidelines." For updated NEWS, go to www.SeafoodSource.com

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