Thai Union Group's subsidiary, i-Tail Corporation, has announced the creation of a new US arm, i-Tail Americas, Inc.
The newly established company, which boast a registered capital of $5 million, is to acquire the shares of US Pet Nutrition, a company that sells and distributes pet food, from Thai Union North America Inc.
The investment is a strategic move for Thai Union Group’s PetCare business, and follows the launch of i-Tail Corporation last year, which was developed to better serve the company’s fast growing pet food business and lead its ongoing development and expansion.
“Thai Union’s PetCare business has seen strong annual growth over the past few years, especially during the pandemic," said Roy Chan, CEO at i-Tail Corporation PCL. "The establishment of i-Tail Americas will give us greater flexibility in managing our business as both domestic and global markets are growing strongly.
“At i-Tail, we are committed to healthy living for all pets, and our Thai Union’s Global Innovation Center has been leading the way in Global PetCare Innovation and product development.”
i-Tail Corporation PCL will hold 100% of the share in i-Tail Americas, Inc.
In November, Thai Union announced an investment in an insect-based pet treats firm, Orgafeed.
A Seafood Standard
Thai Union Group is a long-time player in the world of seafood, having brought a range of products to customers across the world for more than 40 years.
Today, the business is is one of the largest producers of shelf-stable tuna products with annual sales exceeding THB 132.4 billion (US$ 4.2 billion) and a global workforce of more than 44,000 people. The company reported 'solid growth' in its third quarter.
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