The global tuna supply business of Bellevue, Washington-headquartered Tri Marine has been sold to its longtime partner, Bolton Group. Terms were not disclosed.
The Milan, Italy-based buyer, which has held a significant minority interest in the Tri Marine since 2013, now owns the enterprise in its entirety and intends to retain the company’s name and support continued growth.
A privately held firm founded in 1971 as a tuna supplier based in Singapore, Tri Marine operates one of the world’s most far-reaching and sophisticated tuna supply businesses, with numerous subsidiaries, a fishing fleet including 14 purse seiners, and processing plants spanning the globe from China and Oceania to North and South America. It specializes in transforming wild-caught tuna into cooked loins that are vacuum-packed and frozen for further processing by canners. Also supplied are uncooked frozen tuna loins and ultra low temperature (ULT) frozen tuna handled at -60° C and destined for premium sashimi markets.
The Bolton Group, also privately held, is a major player in the international consumer goods market across various product sectors, including food, home and personal care, adhesives and cosmetics. Food sales account for 58% of revenues, and the company ranks as a leader in Europe’s canned tuna market with popular brands including Rio Mare, Saupiquet and Isabel.
Marina Nissim, chief executive officer of the Bolton Group, commented: “We are proud of our longtime partnership with Tri Marine and welcome the company into our family. We look forward to this exciting new chapter of providing customers worldwide with the highest quality, sustainably caught tuna. We will continue to build on Tri Marine’s legacy in the industry.”
“This transaction ensures our growth and success well into the future. It places Tri Marine employees, partners, suppliers and customers in highly capable hands. We can now focus on the group’s core business and continue to move in the direction that today’s world commands,” added Tri Marine CEO Renato Curto, who has been at the helm since leading a management buyout in 1985. He will continue to serve as chief executive officer of the company during a transition period.
