Thai Union makes strategic investment in R&B Food Supply
Thai Union Group PCL (Thai Union) today announced a 10 percent strategic investment valued at about THB 3 billion in R&B Food Supply PCL (RBF), Thailand’s leading food ingredients company specializing in flavors, colors and coating. This investment follows a multi-year relationship between Thai Union and RBF in which RBF has been supplying high quality food ingredients for Thai Union products.The strategic partnership accelerates Thai Union’s growth opportunities in the adjacent food ingredients industry, particularly to serve the increasing sophistication of ASEAN consumers. RBF’s innovative ingredients, such as natural flavors and hemp extracts, can enhance both Thai Union’s core offerings and newer products, including in alternative protein and pet care. For RBF, the partnership will enhance its ability to integrate vertically into Thai Union’s supply chain, and leverage Thai Union’s global footprint for its own international expansion. With a shared vision for innovative food solutions, both companies will leverage their respective capabilities to generate additional value to our customers and stakeholders.
“One of Thai Union’s strategic priorities is to expand our portfolio into new, growing and higher margin areas, and this investment is fully aligned with that”, said Thiraphong Chansiri, CEO of Thai Union. “For over three decades, RBF has stood out as a leading ingredients supplier to the food and beverage industry in Thailand, and we are excited to be a part of their journey. We look forward to working closely with the RBF team to unlock growth as, together, we continue to provide consumers with nutritious, tasty and innovative products across the globe.”
Mr.Somchai Ratanapoompinyo, CEO of RBF said, “We believe that this partnership will leverage and strengthen both companies’ competitive advantages. RBF’s expertise and extensive experience of over 35 years in the food ingredients business will enhance Thai Union’s product offerings. In return, Thai Union’s global presence and reputation as a global player will help unlock RBF’s potential and accelerate our transition seamlessly from a regional player to become a global player in the food ingredients business.”
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