Thai Union Group boosts stake in Thammachart Retail
Food business Thai Union Group has increased its shareholding in Thammachart Seafood Retail to 65 per cent in a move to capture a greater portion of the seafood industry in Thailand.
The firm purchased its initial 25.1-per-cent shareholding in Thammachart last year to build on its existing strength in frozen seafood and food services.
“Thammachart Seafood provides professional management services to leading Thai retailers for their seafood counters, handling fresh and frozen products at 190 locations throughout Thailand,” Thammachart Seafood Retail CEO Julian G Davies told The Nation.
“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 Davies.
“Having Thai Union on board will help us realise our mission to be the customers’ first choice in seafood.”
Thai Union is expected to cross over into the Laotian, Cambodian and Chinese markets following its domestic expansion phase.