Thai Union, a leading seafood company, has announced a 10% strategic investment in food ingredients company R&B Food Supply (RBF) valued at around 3 billion THB ($90 million).
Thailand-based RBF is specialised in flavours, colours, and coatings. With the acquisition, Thai Union said its intention was to accelerate its growth in the food ingredients industry.
“We look forward to working closely with the RBF team to unlock growth as, together, we continue to provide consumers with nutritious, tasty and innovative products across the globe”, said Thai Union CEO Thiraphong Chansiri.
RBF 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”.
Source: Thai Union