Thai Union has announced that it has converted its loan-based strategic investment in Aegir Seafood into a 50% shareholding. The aim is to strengthen the successful business relationship Aegir has developed with Thai Union's brands across Europe.
Since Thai Union's investment in Aegir Seafood in 2019, the Icelandic company has made a substantial contribution to the growth of Thai Union's brands and private label business. Particularly for King Oscar and Rügen Fisch.
"Aegir's supply of premium products has enabled King Oscar and Rügen Fisch to grow their cod liver business. Also, to enter into new markets, which respond very well to the cod liver produced in Iceland," said Paul Reenan, Regional President at Thai Union Europe. "With Thai Union now owning 50% of Aegir, we expect this growth to be accelerated."
In addition, Guðmundur P. Davíðsson, chair of the board at Aegir, said: "Joining forces with the Thai Union is a major step for the Icelandic canned food industry. Thai Union's investment enables us to further grow sustainably in the coming years. Thanks to their strong commercial operations in Europe and beyond we can expand our offering of top-quality cod liver products from Iceland."
Trusted sourcing Aegir sources all its cod from Icelandic Responsible Fisheries, while its products are also certified by the Marine Stewardship Council (MSC). MSC certification is widely recognized by global experts as the benchmark of seafood sustainability.
Thai Union Group PCL is the world's seafood leader. It brings high-quality, healthy, tasty, and innovative seafood products to customers across the world for 45 years.
It is one of the largest producers of shelf-stable tuna products with annual sales exceeding THB 141.0 billion (US$ 4.5 billion). Besides, a global workforce of more than 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.
The company's global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, Hawesta, and Rügen Fisch. Moreover, Thai-leading brands SELECT, Fisho, Qfresh, Monori, OMG Meat, Bellotta, and Marvo. Finally, ingredient and supplement brands UniQ®BONE, UniQ®DHA, and ZEAvita.