Thai Seafood Giant Acquires German Company

BANGKOK, Feb 3 (Bernama) -- Thai Union Group plc has completed the acquisition of a 51 per cent stake in Germany's shelf-stable seafood leader, Rugen Fisch. In a statement Tuesday, TU President/Chief Executive Officer (CEO), Thiraphong Chansiri, said Tuesday the company achieved another milestone. "We are ready to delight and win consumers with our premium, nutritious and sustainable seafood products in the German market," he said. The transaction, he said, has satisfied all regulatory requirements and customary closing conditions, including clearance by the competition authorities in Germany and the European Union. Rugen Fisch's headquarters, he said, will remain in Germany and Andrew Bergman will maintain his position as the company's CEO. Based in north-eastern Germany, Rugen Fisch currently generates revenue in excess of €140 million (€1=US$1.09). It supplies ambient and chilled fish products, including herring, mackerel and salmon across the country to all leading retailers. The Thai Union Group is the world's largest shelf-stable tuna processor and owner of a large global portfolio of seafood brands. -- BERNAMA