Thai Union Acquires Ace of Diamonds
Thai Union Frozen Products last week agreed to purchase the Ace of Diamonds canned seafood brand for about $200,000, according to the Nation of Thailand.
Ace of Diamonds represents about 1 percent of the U.S. canned tuna market; the brand is competitively priced between national brands and private labels, Thai Union said in a filing with the Stock Exchange of Thailand.
Thai Union already owns Chicken of the Sea International in San Diego, which markets one of the top three U.S. canned tuna brands.
"Strategically, the transaction would supplement … Chicken of the Sea in the U.S. canned tuna market," the company said.
According to the Ace of Diamonds Web site, the company began in the 1920s importing canned mandarin oranges, crab and salmon from Japan under the 3 Diamonds brand.
In 2006, the company renamed the brand Ace of Diamonds to better reflect the product's quality. In addition to tuna, Ace of Diamonds cans crabmeat, boiled and smoked oysters, baby clams, tiny shrimp and mackerel fillets.