Thai Union frozen products has announced it has bought an additional 2,989,999 shares of Pakfood for THB 54 (USD 1.76, EUR 1.33) per share.
The purchase brings Thai Union’s total shares to 14,989,999, or a 49.97 percent stake in Pakfood.
One of Thailand’s leading frozen seafood processors and exporters, Pakfood’s main products are frozen shrimp, pasteurized crab meat and ready-to-eat meals, and its T Time brand of value-added food products, namely dim sum, is marketed domestically.
Thai Union acquired its first 40 percent stake in Pakfoods in December of last year. With the initial merger, Thai Union procured nearly 20 percent of annual Thai shrimp output.
