Australian premium canned tuna brand Sirena is for sale and is currently being bid on in a private auction, according to the Australian Financial Review.
The news site revealed that the Valmorbidas family, which founded the company in 1956, has hired KPMG Corporate Finance to handle the auction, with first-round bids due by mid-August. Private equity firms Adamantem Capital, Quadrant Growth Fund, Pacific Equity Partners, and Bain Capital are listed as interested potential bidders.
According to a document circulated by the company to attract interest in the sale, Sirena earns around AUD 20 million (USD 13.6 million, EUR 12.2 million) annually. The Vamorbidas family is aiming for a return of 15 times its earnings.
Sirena uses only pole-and-line-caught tuna for its classic and flavored Sirena canned tuna, its sliced tuna products, its tuna-and-beans meals, and its ready-to-eat meals, which include Kale and Quinoa Salad with Tuna, Sicilian-Style Pasta with Tuna, Italian-Style Salad with Tuna, and Brown Rice and Quinoa with Tuna.
Photo courtesy of Sirena
