Global seafood company Thai Union Group has announced a 10% strategic investment valued at around THB 3 billion (approx. $90 million) in food ingredients firm R&B Food Supply (RBF).
Thailand-based RBF specialises in flavours, colours and coating. The acquisition is expected to accelerate Thai Union’s growth in the adjacent food ingredients industry, especially in the Southeast Asian market.
RBF’s ingredients will help enhance Thai Union’s offerings, including in alternative protein. Meanwhile, RBF will be able to leverage Thai Union’s global footprint for its own international expansion.
Thai Union’s CEO, Thiraphong Chansiri, said: “One of Thai Union’s strategic priorities is to expand our portfolio into new, growing and higher-margin areas, and this investment is fully aligned with that”.
RBF’s CEO, Somchai Ratanapoompinyo, added: “We believe that this partnership will leverage and strengthen both companies’ competitive advantages. RBF’s expertise and extensive experience of over 35 years in the food ingredients business will enhance Thai Union’s product offerings.
“In return, Thai Union’s global presence and reputation as a global player will help unlock RBF’s potential and accelerate our transition seamlessly from a regional player to become a global player in the food ingredients business.”
© FoodBev Media Ltd 2022
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