Home Retail Thai Union to buy 40 pc stake of Avanti Frozen Foods

Thai Union to buy 40 pc stake of Avanti Frozen Foods

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Seafood giant, . (TU) has offered 1.25 billion Indian rupees ($18.80 million) to buy 40 per cent stake of , the shrimp processing unit of .

Avanti Feeds logo
Seafood giant,Thai Union Group Public Co. Ltd. is planning to buy 40 per cent stake of Avanti Frozen Foods

Avanti Feeds, from last two decades has been a leader in prawn culture. Their processing units, quality and state of art export technique have rewarded them with a long list of customers from USA, Europe, Japan, Australia & Middle East.

To benefit from their potentiality, TU is looking forward to buy its stake and add production capacity to meet the growing demand in global market.

Avanti Frozen Foods was established in 2015 to concentrate on the shrimp processing and export in the international market. A new plant is under construction at Yerravaram in East Godavari District, about 80 km from its existing Gopalapuram plant. The effort is being made to boost up the capacity to 75 tonnes a day from 25 tonnes a day at present.

“It should help compensate for the current raw-material shortfall in Thailand. India’s shrimp-farming sector has not been affected by serious disease outbreaks such as early mortality syndrome (EMS). Despite recovery in 2015, Thai shrimp output is still less than half of the level seen before 2013, said CEO, Thai Union Group, Thiraphong Chansiri, president in a press release posted on its website.