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Julian G. Davies (L), TSR’s CEO, and Yeeran G. Davies, TSR’s co-founder. (Photo Thai Union)

Thai Union performs strategic investments in retail service provider

  (THAILAND, 6/25/2018)

Thai Union Group PCL. has announced it settled a deal to purchase 25.1 per cent stake in Thammachart Seafood Retail Co., Ltd. (TSR) for approximately THB 37 million (USD 1.1 million).

As part of the deal, expected to be completed by the end of July 2018, Julian G. Davies, TSR’s CEO, and Yeeran G. Davies, TSR’s co-founder, will remain majority owners and retain operational control.

Through the options, Thai Union expects to increase its shareholding to 65 per cent in 2019.

Thai Union’s representatives informed that the company, which owns Thai-leading brands such as SEALECT, Fisho and Qfresh, will be able to leverage TSR’s creative seafood restaurant concepts as it is the case of the Dock and kiosk-style concepts such as the Lobster Lab, as well as potentially supply its products to TSR, including its retail segment.

“Thai Union invested in TSR in order to build on its strong retail platform throughout Thailand, particularly in chilled and smoked seafood products associated with Thammachart,” said Thiraphong Chansiri, CEO of Thai Union Group.

The executive highlighted that this investment marks a strategic step to quickly penetrate the retail segment with Thai Union’s recently-launched frozen products under its Qfresh brand.

Chansiri stressed that this investment is in line with Thai Union’s focus in the high-growth market in Asia, including Thailand, where it has seen double-digit growth in its frozen businesses in recent years.

For his part, Davies said that working together with Thai Union will enable TSR to pursue its ambitious growth strategy and strengthen its foundation across Thailand by increasing its ability to deliver superior value to its customers, employees and relevant stakeholders.

TSR, which currently generates sales in excess of THB 660 million (USD 19.9 million), was incorporated in 2007 and provides professional management services to Thai retailers for their seafood counters, handling fresh and frozen product at 158 locations in Thailand. This includes two food and beverage concepts at eight locations, The Dock Seafood Bar and The Lobster Lab, as well as management of the Ocean Bar.

Thai Union produces shelf-stable tuna products with annual sales exceeding THB 135 billion (USD 4.03 billion) and a global workforce of over 49,000 people who are dedicated to pioneering sustainable, innovative seafood products. The company’s global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, and Rügen Fisch and Thai-leading brands SEALECT, Fisho, Qfresh, Monori, Bellotta and Marvo.


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Information of the company:
Address: 72/1 Moo 7, Sethakit 1 Road, Tambon Tarsrai
City: Amphur Muangsamutsakorn
State/ZIP: Samutsakorn (74000)
Country: Thailand
Phone: +66 2 298 0024
Fax: +66 2 298 0548
E-Mail: [email protected]
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