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Bumble Bee assets going up for auction

The Bumble Bee plant in Mayagüez (Credit: lacallerevista.com)

Three months after announcing its decision to leave the island after 50 years of operations, Bumble Bee has hired San Diego-based Heritage Global Partners to auction off the assets of the former plant in Mayagüez, on Sept. 12 and 13. The sale will be conducted over the phone and online.

The sale includes Bumble Bee’s waterfront property (including the manufacturing building and other assets) as well as select pieces of surplus production and facilities support equipment. A pre-approved group of parties will be allowed to bid during a closed 30 minute session — from 7 a.m. to 7:30 a.m. — on Sept. 12, while a second global online “piecemeal” auction will open at 8 a.m. Sept. 12, and run until 10 a.m. the following day.

“Our upcoming auction of Bumble Bee’s extensive assets, including prime water front real estate, offers an excellent opportunity for companies in food and general manufacturing not only to acquire state-of-the-industry equipment but also to quickly relocate to an existing facility located in Puerto Rico,” said Heritage Global Partners Vice President George Wandachowicz.

Prospective bidders are encouraged to preview the Mayaguez site on Sept. 11 from 9 a.m.–4 p.m., or further in advance by appointment, the company said.

All prospective bulk auction bidders are required to wire transfer $250,000 to participate. The deposits are fully refundable at the end of the auction to non-winning bidders. There is no deposit required for participants in the online piecemeal auction.

The Bumble Bee tuna cannery in Mayagüez closed June 30, leaving about 260 people jobless, as News is my Business first reported.

Author Details
Author Details
Business reporter with 29 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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