Bumble Bee Said to Draw Bids From Thai Union, Mitsubishi

Bumble Bee Seafoods LLC has attracted bids from companies including Mitsubishi Corp. and Post Holdings Inc. as its private-equity owner begins an auction of the tuna brand, people familiar with the matter said.

Lion Capital LLP, which acquired Bumble Bee from Centre Partners Management LLC in 2010 for $980 million, is seeking more than $1.5 billion for the business, said the people, who asked not to be named because discussions are private. About 12 consumer-products companies and private-equity firms expressed interest before today’s deadline for first-round bids, the people said, though it isn’t clear how many entered bids.