Thai Union Frozen Products Pcl is known to be the largest canned tuna producer in the entire world. This large company is expected to grow even larger as it reports to be expecting a revenue increase by eight percent to $4 billion for the year 2014 and targeting $5 billion for the year 2015. The revenue increase is primarily because of its higher shrimp and tuna sales as the company lines up more acquisitions.
According to Thiraphong Chansiri, who is the President and Chief Executive of the company, the fast-growing firm will seek much better deals as it is anticipating a total revenue of $8 billion in the year 2020. Chansiri also told the reporters in a press briefing that their key to expand is their M&A strategy and that they see a lot of opportunities waiting for them.
The President and Chief Executive of Thai Union Frozen Products Pcl also added that they see MerAlliance, the French smoked salmon supplier, and King Oscar, the Norwegian seafood firm the company recently acquired, to boost the company’s profit margins and overall revenue. The expected $4 billion revenue this year implies a total of 8.1 percent increase from the $3.7 billion revenue last year.