Thai Union establishes new healthcare products unit
Thai Union has announced the establishment of a new subsidiary to expand into production and distribution of supplement and healthcare products, the company said in a statement on 4 March.
The subsidiary, Thai Union Lifescience, will also focus on manufacturing and distributing other healthcare, wellness, and biotechnology products.
Thai Union Lifescience will have registered capital of THB 300 million (USD 10 million, EUR 8.2 million). Thai Union will own 95.2 percent of the new unit’s shares, with the remainder held by three management officials.
The formation of the subsidiary is the latest move made by Thai Union in its effort to expand its core business into what the seafood giant calls “healthy products driven by innovation.”
In January, Thai Union Ingredients, a subsidiary of Thai Union, and Inter Pharma Public Company Limited also formed a joint venture on health supplements.
The new joint venture, Interpharma-ZEAvita Co., Ltd., will have a registered capital of THB 20 million (USD 660,000, EUR 540,000). Thai Union will hold a 49 percent stake in the new company, with Inter Pharma holding a 50.99995 percent stake and its CEO, Trinnawat Thanitnithiphan, with a 0.00005 percent stake. Interpharma-ZEAvita’s main focus will be research and development, as well as the manufacturing and distribution of health products.
This year, Thai Union’s subsidiary Thai Union Ingredients launched a new product – a fine, off-white powder with a neutral taste and smell made from tuna bone. The UniQTMBONE can be used for producing different types of food, capsules, and tablets, and serves as an additive for pet food and pet nutrition products.
In October 2020, Thai Union announced a tie-up with BevTech Company Limited to invest into a new joint venture called Food and Beverage United Company Limited. Their collaboration would focus on product development, production, and distribution of “nutritious food and beverage products under brand or trademark of Food and Beverage United Co. Ltd,” the partners said.