Thai company TUF acquires European seafood firms

TUFTUF is said to be looking to increase overseas earnings. (Image source: TUF)Thai Union Frozen Products (TUF) has completely taken over two European seafood brands — MerAlliance and King Oscar

Both deals reportedly represent a strategic driver for TUF to double the group’s revenue by 2020. MerAlliance and King Oscar transactions will be consolidated into TUF’s sales and earnings from November 2014 onward.

MerAlliance is a chilled smoked-salmon producer with the annual sales of US$220mn in the fiscal year ending 31 March 2014, according to the European comapny.

King Oscar is a premium canned sardine processor in Norway, USA, Poland, Belgium and Australia, generating US$80mn sales in the year 2013.

Thiraphong Chansiri, CEO of TUF, said, “The completion of these two transactions places us in an even stronger position at the heart of world seafood industry. By incorporating MerAlliance and King Oscar into our portfolio, we are gearing towards more strategic premium branded product development as well as ensuring our consumers and customers with continued expertise and more comprehensive products offerings.”

MerAlliance allows TUF to expand from the existing product offerings in frozen and shelf-stable into the chilled category. King Oscar’s unique products and its branded trademark is expected to complement TUF’s existing portfolio of leading global brands namely Chicken of the Sea, John West, Parmentier, Petit Navire, Mareblu, Century, and Sealect.

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