Thai Union Frozen Products is to buy 100% of the shares in Bumble Bee Seafoods in a move that will give the Thai giant control over the leading North American company non-perishable seafood products, and specifically, over 38% of the U.S. market in canned tuna.
The operation valued at 1,510 million dollars and subject to the approval of the U.S. competition authorities, is expected to be finalized in the second half of 2015 leaving two of the most well-known seafood brands in the U.S.A. under the same auspices: Bumble Bee Seafoods and Chicken of the Sea (owned by Thai Union).
With this move, Thai Union closes an active year on the international market by mergers and acquisitions, this being the third acquisition made by the Thai based company, so far this year, after purchasing the Norwegian canning company, King Oscar, and the French smoked salmon supplier, MerAlliance.