Chicken of the Sea owner’s seafood sales increase in pandemic, Gross profit margin at 3-year high of 18.2% on demand for cans.
© 2020 Cleary Gottlieb Steen & Hamilton LLP. Sales rose 2.6% to 33.1 billion baht, led by its ambient seafood business, the company said in a statement to the Thai exchange Tuesday. Thai Union Group reported a more than 15-fold increase in its second-quarter profit, though the owner of Chicken of the Sea and John West seafood brands said the increase would have been a more modest 13.4% if costs to settle an antitrust lawsuit in the U.S. a year earlier were excluded. TUF is the world’s largest processor of shelf-stable tuna products and the owner of the U.S.-based Chicken of the Sea business, and Bumble Bee Seafoods is North America’s largest branded shelf-stable seafood company.
The transaction was announced on December 19, 2014 and is expected to close in the second half of 2015.
Finding better ways for consumers, stakeholders, the seafood industry and the future of our planet. Thai Union Frozen Products in Antitrust Aspects of $1.5 Billion Acquisition of Bumble Bee Seafoods
Thai Union is proud to have its efforts recognized by leading organizations from around the world.
Thai Union Group CEO Thiraphong Chansiri and CFO Joerg Ayrle have been recognized by Global Banking and Finance Review for their dedication and commitment in providing strong leadership. The company said gross profit margin was 18.2%, the highest level in three years, and rose from 16.7% a year earlier. Thai Union wins the 2020 APAC Employee Experience Best Practice Award. Net impact of this accrual was THB 1,402mn.
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Thai Union was presented with the prestigious 2020 APAC Employee Experience Best Practice Award for the incredible result in transforming its workplace by implementing transformational talent … Including
The Trade Competition Act provides two types of restrictive trade practices: restrictive trade practices not eligible for permission and restrictive trade practices eligible for permission. Unlocking potential, from laboratory to marketplace. Restrictive trade practices that are eligible for permission include m… Have a confidential tip for our reporters.
The Global Innovation Center (GIC) is overseen by a world-class team of... From Thai Union’s vision, mission and values to our day-to-day operations, responsible engagement with both the people and natural resources along our supply chain is fundamental to our approach.
Thai Union said it set aside about 1.4 billion baht to settle its legal case in the same quarter in 2019, which also had tax implications. Thai Union was presented with the prestigious 2020 APAC Employee Experience Best Practice Award for the incredible result in transforming its workplace by implementing transformational talent management solutions and result-driven changes. Operating profit was a record 2.37 billion baht, despite a “high share of loss” from its Red Lobster restaurant affiliate, he said.
Shares of Thai Union jumped 6.1% to close at their highest level since July 21 as the consensus profit forecast was for 1.37 billion baht.
Thai Union Group has acknowledged its U.S. subsidiary, Chicken of the Sea, is the whistleblower in a price-fixing scandal that has led to a United States Department of Justice investigation and prosecution of its primary competitors in the U.S. canned tuna market. Net profit was 1.72 billion baht ($55 million) in the April-June quarter, compared with 111.5 million baht in the same period a year ago. Climate Change Litigation and Enforcement, Economic Sanctions and Foreign Investments, Sovereign Governments and International Institutions, Cleary Gottlieb Wins Three GCR 2020 Awards for Merger Control Victories, American Tower to Acquire InSite for $3.5 Billion, Cleary Gottlieb Shortlisted for 2020 ‘Law Firm of the Year’ by The American Lawyer, Warburg Pincus to Acquire Sweeping Corp of America, Cleary Gottlieb Shortlisted for ALB Korea Law Awards 2020.
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Thai Union Group reported a more than 15-fold increase in its second-quarter profit, though the owner of Chicken of the Sea and John West seafood brands …
As a result, Chicken of the Sea recorded a USD 60mn one-time accruals to reflect additional risks. Restrictive trade practices that are not eligible for permission include abuse of dominant position, joint price fixing and certain forms of joint conduct by two or more business operators.
Cleary Gottlieb is advising Thai Union Frozen Products in the antitrust aspects of its $1.51 billion acquisition of Bumble Bee Seafoods. Thai Union received the Innovation Excellence Award at the Thailand Corporate Excellence Awards 2019 for its outstanding work in innovation.
Thai Union Group has received the Stock Exchange of Thailand’s Best Sustainability Excellence Award 2019 for Thai-listed companies with market capitalization of THB 30 billion-THB 100 billion. Chicken of the Sea canned fish products sit in Bangkok.
Powerful performance.
Iconic international seafood brands. Before it's here, it's on the Bloomberg Terminal. “COVID-19 has presented enormous challenges to companies all around the world, both short-term and long-term,” Chief Executive Officer Thiraphong Chansiri said in the statement.
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