Thailand's TUF buys local seafood processor

 

The world's biggest tuna-canned processor Thai Union Frozen Products (TUF) has acquired the remaining 9.56% stake in Songkla Canning Ltd from Nippon Suisan Kaisha (Nissui) and a group of existing shareholders for about 657.65 million baht (US$19.63 million).

Currently, Songkla Canning has a registered capital of 360 million baht.

Upon the completion of the acquisition, Songkla Canning will become a wholly-owned subsidiary of TUF. This will make it easier for the company to further integrate and consolidate control within its subsidiaries and get more profit share in the future, TUF said.