Thai Union has acquired a 10 percent stake in Bangkok, Thailand-based R&B Food Supply (RBF), a food ingredients firm supplying flavors, colors, and coating in Thailand.
The 10 percent investment in RBF, which is worth at about THB 3 billion (USD 89.8 million, EUR 76.6 million), will help Thai Union strengthen its relationship with RBF, which has grown into one of the largest suppliers of food ingredients used in Thai Union products, it said in a 20 September press release.
Thai Union said the strategic partnership with RBF will further support its potential growth in the food ingredients industry to meet rising demand in Southeast Asia. The ingredients supplied by RBF, including natural flavors and hemp extracts, will bolster the supply of Thai Union’s core offerings and aid in the development of new products, such as alternative protein and pet care, it said.
“One of Thai Union’s strategic priorities is to expand our portfolio into new, growing and higher margin areas, and this investment is fully aligned with that.” Thai Union CEO Thiraphong Chansiri said. “For over three decades, RBF has stood out as a leading ingredients supplier to the food and beverage industry in Thailand, and we are excited to be a part of their journey. We look forward to working closely with the RBF team to unlock growth as, together, we continue to provide consumers with nutritious, tasty, and innovative products across the globe.”
RBF CEO Somchai Ratanapoompinyo said the partnership with Thai Union will be a benefit as it better integrates itself into Thai Union’s supply chain and capitalizes on opportunities to utilize Thai Union’s global presence to support its own expansion. RBF’s customers include food and beverage manufacturers, restaurants, meat processors, and pet-food makers. Ratanapoompinyo said he hopes the partnership with Thai Union will help his company advance its goal of becoming a global supplier of food ingredients.
Photo courtesy of R&B Food Supply
