Lion Capital has agreed to sell Bumble Bee Seafoods to Thai Union Frozen Products (TB: TUF) for $1.51 billion. Founded in 1899 and employing over 1,300 people, Bumble Bee is the largest North American branded shelf-stable seafood company, offering canned, pouched and frozen seafood products under a variety of brands. The company, which competes with TUF's Chicken of the Sea, generates roughly $1 billion in annual sales and has a 2014 estimated EBITDA of $145 million. In turn, TUF records annual sales exceeding $3.66 billion and employs over 35,000 worldwide. The transaction is expected to close in the second half of 2015.