Despite the downward economic trends in both the United States and the European Union, Thai Union Frozen Products (TUF) is working on acquiring new brands. And new investments will be announced by 2015 to serve business expansion under the group’s umbrella.
“We cannot say when we will get the new brands, as negotiations for any deals are not easy to complete in detail. It is still in the process, so it is hard to tell you how many brands will be acquired this year or next,” said Thiraphong Chansiri, president of the company.??
In the EU market, the company has concentrated on canned seafood and is looking for more brands. TUF currently only has brands with good access to five of the EU’s 27 member states, and it is looking at Scandinavia, Germany, Benelux, and Eastern Europe as focuses for expansion. Outside Europe, North Africa and the Middle East are also in the company’s sights.??
However, new investment in the U.S. has declined, as the company has already set up businesses there for production of canned and frozen seafood and pet food.
