Bangkok-headquartered Thai Union announced on July 5 that it will acquire a majority stake in Canadian lobster processor Les Pecheries de Chez Nous. Francois “Frankie” Benoit, the existing owner and chief executive officer of the Val-Comeau, New Brunswick-headquartered company that rang up sales of approximately C$ 50 million in 2015, will retain a minority share and remain engaged in the operation.
Chez Nous has direct relationships with fishermen in both Canada and Maine in the northeastern United States, owns a processing facility strategically situated on the Gulf of St. Lawrence, and is investing in a live lobster holding facility. The company, established in 2005, employs a small full-time office staff managing operations and accounting functions, and up to 200 seasonal workers during the lobster harvest season.
The deal comes after Thai Union subsidiary Tri-Union Frozen Products, 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 USA.
By investing in 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 with Chez Nous will bring additional expertise and transparency to our customers.”
Describing the partnership with Thai Union “is an exciting next step for us,” Chez Nous CEO Benoit added, “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.”
