San Diego-based Bumble Bee Foods LLC has confirmed the signing of an agreement with the Samoa government to set up cannery operations in the independent state, where an estimated 1,000 new jobs will be created.

Samoa Prime Minister Tuilaepa Sailele Malielegaoi had announced that the cannery operations will be at Matautu Wharf in the town area of Apia and his government was moving forward with the signing of the Memorandum of Understanding (MOU) with Bumble Bee.

Responding to Samoa News email questions, Bumble Bee president and chief executive officer, Chris Lischewski, said the MOU was signed June 30 between Bumble Bee and the Samoa government. However, “we are unable to discuss specifics around your question about incentives offered by the government of Samoa,” he said.

According to the CEO, the company is planning a processing plant for pre-cooked loins and frozen tuna products in Samoa and expects to break ground before the end of 2014, while operations are planned to begin in the fourth quarter of 2015.

He said the pre-cooked tuna loins would be shipped from Samoa to the US for canning in Bumble Bee’s processing plant in Santa Fe Springs, California.

“Bumble Bee will also be processing frozen albacore, yellowfin and bigeye for the frozen market. The frozen products will utilize both ultra-low temperature (ULT) and ‘Clearsmoke’ technologies,” he said adding that Bumble Bee is only looking at the North American market opportunities for fish export.

“Bumble Bee processes loins globally in order to remain competitive as we face the challenges of seasonal variances, sustainability issues and other external forces,” he said. “The addition of the Samoa processing location enhances our global supply position.”

The company was founded in 1899 by a group of seven canners in Astoria, Oregon and in 2010 was acquired by Lion Capital LLP, according to Bumble Bee’s website.

Recently there have been a number of national media reports speculating the possible sale of the company by its owners.

Tri Marine International, which has operations in Atu’u, was rumored as one of the possible buyers, but Tri Marine vice president of production, Dan Sullivan told Samoa News that this is just a “rumor”. (See separate story elsewhere in today’s edition.)

Late last week, Reuters news agency reported that Bumble Bee is preparing a sale process that could value North America's largest producer and marketer of canned tuna and sardines at as much as $1.5 billion.

Asked for comments on the report, the company provided to Samoa News a brief statement from Kent McNeil, the executive vice president and chief financial officer. This is the same statement quoted by Reuters.

“In its last conference call with bond investors and analysts, Bumble Bee indicated it would likely be evaluating refinancing options during 2014,” McNeil said. “Beyond that, the Company cannot comment on any speculation regarding these or other options it may be considering at this time.”

Citing people familiar with this matter, Reuters reports that Bumble Bee has annual earnings before interest, tax, depreciation and amortization of around $130 million and is expected to attract interest from other food companies in the United States and Asia.