Thai Union profit increases four fold; CEO Thiraphong refuses to quash Bumble Bee bid speculation
SEAFOODNEWS.COM [Reuters] By Khettiya Jittapong and Saranya
Suksomkij - August 14, 2014 -
Thai Union Frozen Products Pcl, the world's largest producer of canned tuna, is seeking acquisitions to boost sales next year to $5 billion, its chief executive said on Thursday, declining to specify any potential targets.
Shares in Thai Union, which makes "Chicken of the Sea" brand tuna and counts Wal-Mart Stores Inc and Costco Wholesale Corp among its clients, surged last month on speculation it could be interested in buying Bumble Bee Foods, the largest canned tuna and sardines producer in North America.
Earlier on Thursday, Thai Union said its second-quarter net profit surged more than four-fold from a year earlier due to higher margins from its tuna business and improved shrimp sales...
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