Thai Union adds to its stake in Thammachart Seafood Retail

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Thai Union adds to its stake in Thammachart Seafood Retail

By THE NATION

 

 

Thai Union Group has expanded its footprint in Thailand’s domestic seafood retail business, increasing its stake in Thammachart Seafood Retail to 65 per cent.

 

 

Thai Union’s acquisition of a 39.9-per-cent share in Thammachart Seafood follows on from its purchase of a 25.1-per-cent stake in 2018. 

 

Rittirong Boonmechote, President - Global Frozen Unit, Thai Union Group said Thai Union decided to invest in Thammachart Seafood Retail in recognition of the good synergy of the two companies. 

 

While Thai Union has strength in frozen seafood and food service, Thammachart Seafood is strong in branding and marketing with formidable executives and a team with more than 10 years of experience and expertise in retail and premium seafood brands. 

 

This will fulfill Thai Union’s goal of expanding further into the Thai domestic market and other markets including Laos, Cambodia and China. 

 

Besides managing its own operations, Thammachart Seafood will bring its expertise in branding and marketing to Thai Union’s Qfresh branded products which will allow it to expand into both B2B and B2C segments.

 

"Thammachart Seafood provides professional management services to leading Thai retailers for their seafood counters, handling fresh and frozen products at 190 locations throughout Thailand. This includes four food and beverage concepts at 18 locations, The Dock Seafood Bar, The Lobster Lab, Seafood Mahanakorn as well as management of the Ocean Bar. We opened our third business unit earlier this year, the seafood-focused food service business, and this currently supplies top-end hotels and restaurants including several Michelin-star restaurants in Bangkok,” said Julian G Davies, Thammachart Seafood Retail’s chief executive.

 

“Moreover, to assist our vision of providing seafood solutions to our customers, we also opened a purpose-built warehouse that has a centralized kitchen, chef’s table, production facility and storage. Having Thai Union on board will help us realise our mission to be the customers’ first choice in seafood.”

 

Source: https://www.nationthailand.com/business/30379396?utm_source=homepage&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2019-12-14

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[justin case]

as long as they have an army of low paid people so they can keep the profits high