In respect to the Bumble Bee Seafood (BBS), BBS is one of our key buyers of canned Tuna basic, VAP and Salmon under Bumble Bee (USA) and Clover leaf (Canada) brands. PFI has long been supplying our canned products over decades with recent business turnover in Y'13 at USD 26 Mil or 13% to our biz portfolio. The company had gone thru many ownership changes, which lately owned by Lion Capital group since Y'2010. Lion Capital would like to sell out BBS through bidding auction by 4-5 key interested investors such as Itochu, Bolton group, Thai Union, etc. At this stage, we do not know who will win the bidding and if there is going to be a big change in their supply sourcing strategy in the medium - long term.
In this connection, our CEO, Khun Somboon would like to remind all of us that commitment in product quality, innovation and sustainability would assure our long term success. In this critical time, we count on team to define causes of turbulence affecting our company today and what steps we should take now to protect our organization in allowing to thrive in the midst of this turbulence.
Thank you very much and welcome any of your thought and comment.