TUF invests US$200,000 on new tuna brand

By The Nation

Thai Union Frozen Products Plc's board of directors last week approved the company's plan to purchase "Ace of Diamonds" brand in the US market for US$200,000 or approximately Bt6.9 million.

The company said in the filing to the Stock Exchange of Thailand that the brand currently accounts for around 1 per cent share of the US canned tuna market. It is positioned primarily as a price/fighter brand, playing a role between the national brands and private labels.

"Strategically, the transaction would supplement Tri Union Seafoods LLC's key brand "Chicken of the Sea" in the US tuna market," the company said.

Tri Union Seafoods is a subsidiary of TUF, operating in the United States.

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TUF invests US$200,000 on new tuna brand

Thai Union Frozen Products Plc's board of directors last week approved the company's plan to purchase "Ace of Diamonds" brand in the US market for US$200,000 or approximately Bt6.9 million.

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