Thai Union Group, a world-leading seafood company, has announced a 10% strategic investment valued at around THB 3 billion ($90 million) in R&B Food Supply (RBF).
Thailand-based RBF is a leading food ingredients company specialised in flavours, colours, and coatings.
With the acquisition, Thai Union accelerates 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 Thiraphong Chansiri, CEO of Thai Union.
Somchai Ratanapoompinyo, CEO of RBF said, “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