Samut Sakhon, Thailand-headquartered Thai Union Frozen Products (TU) announced on October 3 that it has acquired the minority shareholding interest of Tri-Union Frozen Products (TUFP) from Diversified Food Products. The purchase, valued at approximately $46 million, transferred to its Thai Union International subsidiary the 18% of the company previously held by executives of Chicken of the Sea Frozen Foods.
Based in El Segundo, California, TUFP operates as Chicken of the Sea Frozen Foods and is a major importer of high-value seafood ranging from frozen shrimp and lobster to pasteurized crabmeat. Its president and chief executive officer is Bryan Rosenberg.
According to a statement issued by TU Directors Kraisorn Chansiri and Chuan Tangchansiri: “The acquisition was part of the company’s attempt to fully integrate its interests in all subsidiaries around the world in order to obtain effective control for the better management and alignment of the group’s strategies, corporate vision, mission and core values.”
