Thai Union Frozen Foods is increasing its stake in Pakfoods, and while it did not reveal by how much, industry insiders told IntraFish the increase is expected to give the company a majority stake.
Thai Union, which currently owns 40 percent of Pakfoods, says it plans to buy existing and new shares that will be offered through a rights offering as approved by Pakfoods’ board of directors.
The move is expected to accelerate Thai Union’s expansion into the frozen ready-to-eat food business, especially shrimp products.
Pakfoods
