Thailand’s leading seafood company, Thai Union, has officially increased its stake in seafood supplier Thammachart Seafood Retail (TSR), enabling it to expand its footprint in Thailand and other Asian markets, the enterprise said in a statement on Friday, 13 December.
The seafood giant now has a 65 percent stake in TSR following the latest acquisition of 39.9 percent that it announced in November and 25.1 percent it previously purchased in 2018. The other stakeholders in TSR are Sansanee Gatenby Davies (25.9 percent stake) and Thammachart Seafood Limited (9.1 percent).
Thai Union said the investment is a good synergy of the two companies, as Thai Union has strength in frozen seafood and foodservice while, TSR is strong in branding and marketing, with more than 10 years of experience and expertise in retail and premium seafood brands.
“This will fulfill our goal of expanding further into the Thai domestic market and other markets including Laos, Cambodia, and China,” Thai Union President of Global Frozen and Related Unit Rittirong Boonmechote said. He added that besides managing its own operations, TSR will bring its expertise in branding and marketing to Thai Union’s Qfresh branded products, which will allow Qfresh to expand into both B2B and B2C segments.
TSR, founded in 2007, is a provider of premium imported and local fish as well as other frozen and smoked seafood to retailers in Thailand. It manages its seafood counters, and operates a few seafood restaurant outlets, according to Thai Union.
Photo courtesy of Thai Union
