Thai Union takes stake in Red Lobster

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Thai Union takes stake in Red Lobster

SIRIVISH TOOMGUM
THE NATION 

 

Thiraphong

 

THAI UNION Group, one of the world’s largest seafood companies, has purchased a minority stake in Red Lobster Seafood Co, the world’s largest seafood-restaurant company, in a deal worth US$575 million (Bt20.3 billion) as part of its strategic expansion into a new business segment, retail food services.

 

Thiraphong Chansiri, chief executive officer of Thai Union, said yesterday the move would pave the way for the company to learn more about the restaurant business and restaurant management. The acquisition fits well with the company's strategy to continue to expand into areas related to its core seafood business.

He said the company expected to take two to three years to gain more insight into this business.

 

Full story: http://www.nationmultimedia.com/business/Thai-Union-takes-stake-in-Red-Lobster-30297436.html

 

-- © Copyright The Nation 2016-10-12

[KhonKaenKowboy]

Dead Lobster.....very below average.

[noitom]

Are the Red Lobster folks aware of this Thai company's track record in human rights and slave labor practices?

 

[geriatrickid]

For those who are unaware, Red Lobster is in trouble with declining sales and a shrinking profit margin.Former owners,  Darden had disposed of this pooer performing asset with good reason. The problems continue for the company as consumers have become aware of the characteristics of foreign sourced factory farmed shellfish and other products.  The shrimp that Red Lobster was selling were never known for their freshness or size. More importantly and what was hurting RL, was that the frozen foreign products were expensive.  

 

It's wonderful that a Thai company purchased a stake in  RL. Perhaps it feels it will be able to influence  supply purchase decisions. I don't know, and I don't care as I avoid chains like RL. Garbage food,  at high prices. In any case, I haven't set foot in the USA in 2 years, so it's not like I'll be  dining at one anytime soon.

[Enoon]

4 hours ago, noitom said:

Are the Red Lobster folks aware of this Thai company's track record in human rights and slave labor practices?

 

 

Looking on the bright side, it gives activist groups a target on soil where they are free to express their opinions and publicise the issues.

 

Think of it as a "salient", more vulnerable to attack and stretching it's defenders resources.

[ourmanflint]

Thai Union aka John West. If there was ever a  company that needed investigating here it is.