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Thai Union Group, Thailand-based producer of seafood-based food products, has made an agreement to acquire 45 per cent of TUMD Luxembourg
TUMD wholly owns three Russian companies including Dalpromryba Limited Liability Company, Torgovo-Promyshlenny Kompleks 'Dalpromryba” Limited Liability Company and Maguro Limited Liability Company. These companies are collectively known as the DPR Group (DPR).
DPR is a retail-focused fish and seafood business and it is Russia’s one of the leading canned tuna producers.
Russia has a large and growing economy with a relatively low consumption of tuna, which is steadily increasing. It is expected that sales of tuna, and other seafood, will continue to increase given improving living standards and general health awareness.
Working together with Thai Union, DPR is set to further strengthen its position in the market, with a plan to double sales to US$100mn within the next five years.
With this acquisition, Thai Union will have significant footstep of almost all major European seafood markets, driving exposure to fast-growing emerging markets.
Thai Union’s investment in innovation is delivering positive results with its new Yellowfin Tuna Slices and tuna sausage, the latter being a healthier alternative to traditional sausage products.
Yellowfin Tuna Slices are the world’s first pre-sliced, pre-seasoned tuna made from whole yellowfin tuna loins developed to give deli customers a healthier, convenient alternative to traditional luncheon meats. In March, Yellowfin Tuna Slices won the 2018 Seafood Excellence Award in the Best New Foodservice Product category at the Seafood Expo North America in Boston. Further, Yellowfin Tuna Slices made its European debut at the Seafood Expo Global in Brussels in April where it was also a finalist for the Seafood Excellence Global Awards.
Yellowfin Tuna Slices are currently being rolled out across the US foodservice channels through Thai Union’s international brand Chicken of the Sea. Additionally, Yellowfin Tuna Slices are beginning to be commercialised in Europe and the Middle East.