In the News: 2003

Thai Union Frozen Products PCL: Deal Is Reached to Acquire Empress International of U.S.

The Asian Wall Street Journal
28 July 2003

Thai Union Frozen Products PCL, a major canned-tuna producer, said Friday it will acquire Empress International Ltd., a seafood distribution and marketing company in New York. In a Stock Exchange of Thailand filing, Thai Union Frozen said its Thai Union International LLC unit will acquire 100% of Empress International by the end of July. Shye Wing Chan, Thai Union Frozen's director, said Empress International is a profitable company and the acquisition will help boost Thai Union's profit, starting in the third quarter. He didn't disclose the terms of the acquisition. In 2002, Empress International recorded revenue of $214 million, up from $185.9 million in 2001. After the acquisition, the company will be able to harness Empress International's strong presence in Latin America, Thai Union Frozen said.