Thai Union Is Exiting Its Minority Investment in Red Lobster. Here’s Why.
Last March reports began to surface that Thai Union was considering exiting from their Red Lobster investment. Thai Union CEO Thiraphong Chansiri was quick to respond, saying that comments made by him were misconstrued. But now, less than a year later, Thai Union says that they do intend to “pursue an exit of its minority investment in Red Lobster.”
“The combination of COVID-19 pandemic, sustained industry headwinds, higher interest rates and rising material and labor costs have impacted Red Lobster, resulting in prolonged negative financial contributions to...
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