Thai Union To Buy Canadian Lobster Processor
July 6, 2016 | 1 min to read
Thai Union Group Plc (TU.BK), the world's largest canned tuna producer, said on Tuesday it would buy a majority stake in Canadian lobster processor Les Pecheries de Chez Nous (Chez Nous) for an undisclosed amount.
Thai Union, which makes the "Chicken of the Sea" brand and counts Wal-Mart and Costco among its buyers, will give financial details about the deal in August, it said in a statement.
Francois "Frankie" Benoit, the existing owner and chief executive of Chez Nous, will retain a minority share in the company which had sales of about C$50 million in 2015, the Thai firm said.
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