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August 11, 2020

Thai Union buys control of Russian seafood firm DPR

Thai Union Group, the Thailand-based seafood major, has moved to acquire a majority shareholding in an overseas business.

By Dean Best

Thai Union Group has moved to acquire a majority position in the Russian venture behind DPR Group, the seafood business that is home to brands including Maguro and Rybar.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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The Thailand-based seafood giant has taken its stake in TUMD, which owns three Russian companies known collectively as DPR, from 45% to 90%. Financial terms were not disclosed.

In a statement made alongside Thai Union’s first-half financial results, the company described DPR as a “retail-focused fish and seafood business” and “Russia’s number one canned tuna producer”. The brands in DPR’s portfolio include Maguro, Captain of Tastes and Rybar.

Thai Union said it is “expecting to drive and accelerate DPR’s business strategy” and increase “synergy with Thai Union as a supplier”.

The company added DPR’s “manufacturing and distribution platform offers significant opportunities for further growth and development in key European and emerging markets”.

In the first six months of 2020, Thai Union saw its sales rise 4.2% to THB64.15bn (US$2.06bn), helped by bumper demand for its ambient products, which offset declining sales of frozen food.

Operating profit was up 50.4% at THB3.9bn. Net profit climbed 97% to THB2.73bn.

Thai Union, meanwhile, announced it has decided to close one of its domestic factories, with the seafood major citing Covid-19 as a factor.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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