Investment/Thai Union Group

Editorial team

Thai Union Group converted its loan into a 50% shareholding

Thai Union Group announced that it has converted its loan-based strategic investment in leading Icelandic cod liver company Aegir into a 50% shareholding, further strengthening the successful business relationship Aegir has developed with Thai Union’s brands across Europe.

Since Thai Union’s investment in Aegir Seafood in 2019, the Icelandic company has made a substantial contribution to the growth of Thai Union’s brands and private label business, particularly for King Oscar and Rügen Fisch.

Mr Paul Reenan, regional president at Thai Union Europe

“Aegir’s supply of premium product has enabled King Oscar and Rügen Fisch to grow their cod liver business and enter new markets, which respond very well to the cod liver produced in Iceland,” said Paul Reenan, regional president at Thai Union Europe. “With Thai Union now owning 50% of Aegir, we expect this growth to be accelerated.”

Mr. Guðmundur P. Davíðsson, chair of the board at Aegir

Guðmundur P. Davíðsson, chair of the board at Aegir, said: “Joining forces with Thai Union is a major step for the Icelandic canned food industry. Thai Union’s investment enables us to further grow sustainably in the coming years. Thanks to their strong commercial operations in Europe and beyond we can expand our offering of top-quality cod liver products from Iceland.”

Aegir sources all its cod from Icelandic Responsible Fisheries, while its products are also certified by the Marine Stewardship Council (MSC). MSC certification is widely recognized by global experts as the benchmark of seafood sustainability.

Thai Unio Group is the world's seafood leader, bringing high quality, healthy, tasty and innovative seafood products to customers across the world for 45 years.

Today, Thai Union is regarded as one of the world's leading seafood producers and is one of the largest producers of shelf-stable tuna products with annual sales exceeding 141 billion baht (US$ 4.5 billion) and a global workforce of more than 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.

As a company committed to “Healthy Living, Healthy Oceans,” Thai Union is proud to be a member of the United Nations Global Compact, a founding participating company of the International Seafood Sustainability Foundation (ISSF), and current Chair of Seafood Business for Ocean Stewardship (SeaBOS). Thai Union's on-going work through its SeaChange® sustainability strategy was recognized when the company was listed on the Dow Jones Sustainability Indices (DJSI) for the eighth consecutive year in 2021.

Thai Union was also named to the FTSE4Good Emerging Index for the sixth straight year in 2021.