Thai Union plans to buy Norwegian sardine canner King Oscar
SEAFOODNEWS.COM [Reuters] By By Khettiya Jittapong - September 15, 2014 -
BANGKOK, Thai Union Frozen Products said today that on Monday it would buy Norwegian seafood firm King Oscar for an undisclosed amount, the latest acquisition by the world's largest producer of canned tuna as it seeks to boost revenue.
Like other major Thai companies, TUF is aggressively buying assets overseas to prime itself for the surge in demand expected after the formation of a single Southeast Asian market next year, which would create a $2 trillion combined economy.
Privately owned King Oscar is one of the world's biggest suppliers of canned fish, with sales worth $80 million and an EBITDA margin of around 12 percent in 2013...
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