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February 2, 2015

Thai Union: We can consolidate seafood sector

Thai Union Frozen Products has signalled its interest in more acquisitions in developed markets following three significant deals in Europe and the US for the seafood giant.

By Dean Best

Thai Union Frozen Products has signalled its interest in more acquisitions in developed markets following three significant deals in Europe and the US for the seafood giant.

Thirapong Chansiri, the president of Thai Union, told The Financial Times the company was ready to buy the owners of western businesses looking to exit the sector.

“For us, in the developing economies, it’s just like the beginning of the industry here,” Chansiri said. “But…we see less and less interest or commitment on the other side of the world. Therefore, we are in the right place to consolidate the industry.”

In December, Thai Union struck a deal to buy US canned seafood supplier Bumble Bee Foods from private-equity firm Lion Capital for US$1.51bn. The acquisition, which remains subject to regulatory approval, would see Thai Union add the Bumble Bee canned seafood to a US portfolio including the Chicken of the Sea brand.

In September, Thai Union announced two European acquisitions – French smoked salmon producer MerAlliance and Norway-based canned fish supplier King Oscar – moves to strengthen its business in the region.

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