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Thai Union lines up Red Lobster to net a wider downstream supply chain

Ags - Meat/Dairy 190 Consumer Staples 587 Coronavirus 372 Thailand 103 U.S. 4455

Canned fish maker Thai Union is increasing its stake in U.S. restaurant chain Red Lobster, potentially to more closely control and diversify its downstream supply chain. That comes as Thai Union’s retail-focused business has likely been doing better recently. U.S. imports of canned seafood have surged recently with a 15.5% year over year surge in shipments in July with a further 26.9% rise in shipments in August, likely due to retailers restocking after the pandemic. Thai Union’s U.S. seaborne imports shipments under the “Chicken of the Sea” brand likely jumped 67.4% higher in August whi...

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