Thai Union PCL : Group Expands Further in North America with Acquisition of Canadian Lobster Processor
July 05, 2016 at 07:00 am EDT
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5 July 2016, Bangkok - Thai Union Group PCL (Thai Union), one of the world's leading seafood suppliers, today announced that it will acquire a majority stake in Canadian lobster processor Les Pecheries de Chez Nous (Chez Nous) .
Thai Union, owner of brands such as Chicken of the Sea, John West and King Oscar, will take a majority stake in the business while Francois 'Frankie' Benoit, the existing owner and CEO, will retain a minority share. The company recorded sales of approximately CAD50 million in 2015.
Chez Nous, based in New Brunswick, Canada has direct relationships with fishermen in both Canada and Maine in the northeastern U.S., a processing facility strategically located on the Gulf of St. Lawrence, and is investing in a live lobster holding facility. Chez Nous employs a small full time office staff managing operations and accounting, and up to 200 seasonal workers during the lobster harvest.
The deal comes after Thai Union's subsidiary Tri-Union Frozen Products, Inc, doing business as Chicken of the Sea Frozen Foods, acquired Orion Seafood International in 2015, making it one of the largest sellers of North Atlantic lobster in the U.S. By acquiring Chez Nous, Thai Union secures an even stronger integration footprint in the North Atlantic lobster category. The acquisition will give Thai Union Group companies enhanced traceability and quality control, and expanded product offerings into specialty grades and packs.
'Thai Union's vertical integration has been a key to our division's success in the shrimp, tuna, and pasteurized crab categories,' said Chicken of the Sea Frozen Foods President and CEO Bryan Rosenberg. 'We are excited about the growth possibilities of a similar relationship in North Atlantic lobster. The partnership between Thai Union and Chez Nous will bring additional expertise and transparency to our customers.'
Chez Nous CEO Frankie Benoit said the new partnership with Thai Union 'is an exciting next step for Les Pecheries de Chez Nous. We have recently expanded our facilities and look forward to further growing the business with the opportunities that Thai Union's global network will provide.' Benoit will remain as a partner with the company to drive Thai Union's strategies for growth in this key category.
Thai Union Frozen Products pcl published this content on 05 July 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 05 July 2016 11:00:03 UTC.
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Thai Union Group Public Company Limited is a Thailand-based company. The principal activities of the Company and its Thai subsidiaries are the manufacture and sale of frozen, chilled and canned seafood. The Companyâs some Thai subsidiaries are also engaged in packaging, printing, pet food, food ingredients and food supplemental businesses. Its subsidiaries in the United States distribute pet food, lobster, and other seafood products and import shrimp and other frozen seafood products for sale to restaurant chains, retailers and wholesalers. Its subsidiaries in Europe manufacture and distribute ambient and chilled seafood products to countries in Europe, the United States and Australia under their trademarks. Its subsidiaries in Asia manufacture and distribute seafood in Vietnam and China. The Company has 17 branches in Bangkok and Samutsakorn. Its segments include ambient seafood, frozen and chilled seafood and related businesses, pet food, and value-added and other businesses.