Thai Union Acquires 65% Stake In Thammachart Seafood
Thai Union Group has announced that it has increased its stake in Thammachart Seafood Retail to 65%, from 25.1% in 2018.
The move will help the company to achieve its goal of expanding into the domestic market in Thailand as well as international markets including Laos, Cambodia, and China.
'Expertise In Branding And Marketing'
Rittirong Boonmechote, president of global frozen and related unit at Thai Union Group PCL, said, “While Thai Union has strength in frozen seafood and foodservice, Thammachart Seafood is strong in branding and marketing with formidable executives and a team with more than 10 years of experience and expertise in retail and premium seafood brands.
“Thammachart Seafood will bring their expertise in branding and marketing to Thai Union’s Qfresh branded products, which will allow it to expand into both B2B and B2C segments.”
Thammachart Seafood is a provider of management services to Thai retailers for their seafood counters, and fresh and frozen products at 190 locations in Thailand.
The business also operates four food and beverage concepts at 18 locations, and a seafood-focused food service business for top-end hotels and restaurants, including several Michelin-star restaurants in Bangkok.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.