Mr. Thiraphong Chansiri, President and CEO of Thai Union Group Public Company Limited (SET: TU) made a statement to the media in the afternoon of Monday following an earlier announcement of Mitsubishi Corporation ’s intention to acquire additional shareholding in the company.
The CEO noted that Mitsubishi Corporation has been a shareholder in TU for over 30 years, having first invested in 1991. Toward the end of last year, Mitsubishi expressed its intention to elevate this relationship from simply receiving dividends as a shareholder, to becoming a true business partner—allowing both companies to share in revenues and profits. This transition is seen as a critical opportunity for both to further develop a sustainable global seafood industry.
Both companies have announced a landmark strategic partnership, aimed at expanding their joint business undertakings and strengthening their positions in the global seafood industry.
This move is a strategic investment to deepen business collaboration between the two companies. The goal is to enable joint development, resource-sharing, and capture growing opportunities in the global seafood trade.
Under the new agreement, Mitsubishi will increase its stake from 6.2% to 20%. However, there will be no change in the structure of major shareholders; Mitsubishi will remain one of the largest investors and will continue to have board representation. The existing executive leadership at TU will remain unchanged.
Mitsubishi is currently conducting a thorough due diligence process to ensure compliance with all necessary procedures and regulations.
Renowned as a global leader in the seafood industry, Mitsubishi brings world-class innovation, expertise, and a global presence via subsidiaries and affiliates such as Toyo Reizo, Cermaq, Nosan, and Petline.
The share price proposed by Mitsubishi Corporation for the increased shareholding in TU is 12.50 baht per share. The offer will be made to acquire shares from minority shareholders in the market.
Thai Union assures stakeholders that it remains firmly the largest single shareholder. With nearly 50 years of industry leadership—buoyed by competitive advantages such as improved tariff clarity and strong performance—TU sees this partnership as a catalyst for sustainable and continuous growth, fortifying Thailand’s role as a key seafood business hub.
This partnership fits seamlessly with Thai Union’s Strategy 2030, focusing on three key drivers:
1) Capturing Global Growth Opportunities: Combining TU’s production scale with Mitsubishi’s supply and distribution networks strengthens access to raw materials at competitive costs and enhances supply chain flexibility, just as global demand for seafood and nutritional solutions surges.
2) Targeted Expansion in High-Growth Segments: Both parties will pursue tangible growth in high-demand seafood categories and extend into high-potential adjacencies such as pet food, aligning with evolving consumer trends.
3) Joint Pursuit of Sustainability: By integrating TU’s SeaChange® 2030 initiatives with Mitsubishi’s global sustainability standards, the partners aim to set benchmarks for responsible sourcing, labor welfare, and environmental stewardship—benefiting both people and the planet.
