HGP to Conduct Auction of Bumble Bee Foods’

August 07, 2012 12:38 PM Eastern Daylight Time

Mayaguez, Puerto Rico and San Diego, CA – August 7, 2012 – Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a wholly owned subsidiary of Counsel RB Capital (OTCQB: CRBN), today announced that it will conduct a bulk and piecemeal auction of the Mayaguez, Puerto Rico water front industrial real estate and plant equipment of Bumble Bee Foods LLC, North America’s largest branded canned seafood company. The sale will be conducted via Telephonic auction and online.

The sale of Bumble Bee’s 38.2 million square-meter property (including a 174,000+ square- foot enclosed structure), in addition to select pieces of surplus production and facilities support equipment, will take place for pre-approved parties Wednesday, September 12 from 7–7:30 a.m. ET.  A second global online piecemeal auction will occur from September 12 (8 a.m.) until September 13 (10 a.m.).  Bumble Bee will determine which bids are accepted following their piecemeal sale.  Prospective bidders are encouraged to preview the Mayaguez site on September 11 from 9 a.m.–4 p.m., or further in advance by appointment.

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

“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,” stated Heritage Global Partners Vice President George Wandachowicz.

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the country’s leading asset advisory and auction services firms, assisting large and small companies with buying and selling assets.  A Counsel RB Capital company (OTCQB: CRBN), HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, as well as enterprise auctions combining tangible and intangible assets.

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