Thai Union Group, a producer of seafood-based food products based in Thailand, has expanded its footprint in Thailand’s domestic seafood retail business, increasing its stake in Thammachart Seafood Retail to 65%.
Thai Union’s acquisition of a 39.9% share in Thammachart Seafood comes after the company acquired a 25.1% stake in 2018.
Thammachart Seafood provides management services to Thai retailers for their seafood counters, handling fresh and frozen products at 190 locations throughout Thailand. This includes four food and beverage concepts – The Dock Seafood Bar, The Lobster Lab, Seafood Mahanakorn as well as the management of Ocean Bar – across 18 locations. To support the company’s vision of providing seafood solutions, Thammachart Seafood has opened a purpose-built warehouse that has a centralised kitchen, chef’s table, production and storage.
Rittirong Boonmechote, president, global frozen and related unit, Thai Union Group, commented: “Thai Union decided to invest in Thammachart Seafood Retail, recognizing that this investment is a good synergy of the two companies. While Thai Union has strengths 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 our 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 their expertise in branding and marketing to Thai Union’s Qfresh branded product, which will allow it to expend into both B2C and B2B segments.”
