• Bumble Bee Foods up for sale
Tuna and sardine processor Bumble Bee Food said it plans to launch a sale process this fall and is already reportedly drawing interest from at least two suitors.
Post Holdings and Thai Union Frozen Products PCL reportedly have an interest in Bumble Bee Foods, which is owned by private equity group Lion Capital.
Reuters notes that Bumble Bee is seeking a valuation of at least $1.5 billion.
Bumble Bee is a supplier of Wal-Mart Stores Inc. and operates a sales office in Northwest Arkansas.
• Nestle mandates tougher animal welfare policy
Nestle’s suppliers of dairy, meat, poultry or eggs will soon have to meet new animal welfare guidelines. The company has signed an agreement with World Animal Protection to develop and implement the standards.
The number of suppliers impacted from this new policy total around 7,300 as Nestle buys animal-derived products directly, including milk for its yogurts and ice creams, meat for its chilled foods as well as eggs for its fresh pastry and pasta items.
“We know that our consumers care about the welfare of farm animals and we, as a company, are committed to ensuring the highest possible levels of farm animal welfare across our global supply chain,” said Benjamin Ware, manager of responsible sourcing at Nestle.
The food company has commissioned an independent auditor to carry out farm checks to ensure the new standards are being met. Several hundred farm assessments have already been conducted this year across the globe.
Nestle said it will work with suppliers who have farm violations, but if that farm does not then meet the required standards the supplier contract will be discontinued.
Nestle is a supplier to Wal-Mart Stores Inc. and operates a large sales office in Rogers.