Mitsubishi to raise stake in Thai Union to 20% through share acquisition and alliance deal.
Mitsubishi Corporation has announced plans to raise its stake in Thai Union Group from 6.19% to 20% through a general offer, as part of a broader business alliance agreement between the two companies.
The Japanese conglomerate intends to acquire an additional 13.81% of Thai Union’s issued shares (excluding treasury shares) at an offer price of THB 12.5 per share, subject to potential adjustments. Following completion of the transaction, Thai Union will become an equity-method affiliate of Mitsubishi.
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Thai Union is one of the world’s largest seafood processors and a global market leader in canned tuna and wet pet food. Mitsubishi first invested in the Thai company in 1991, and the two have collaborated for over three decades across multiple seafood categories, including canned tuna, pet food, and frozen seafood such as salmon and shrimp.
In a statement issued on 4 August, Mitsubishi said the business alliance aims to strengthen cooperation across the seafood value chain, combining the two companies’ capabilities in procurement, processing, and sales to enhance global synergies and ensure the stable supply of high-quality seafood products.
The move comes amid rising global demand for seafood, particularly tuna, which continues to see growth across both human and pet food segments. Mitsubishi noted that tuna is prized for its versatility and is managed under strict sustainability protocols.
Completion of the share acquisition is subject to certain conditions precedent. Once finalised, the agreement will formalise a longstanding strategic partnership between the two companies.
Thai Union is headquartered in Samut Sakhon, Thailand, and was established in 1977. It manufactures and sells a range of processed seafood products. Mitsubishi Corporation operates globally across multiple sectors, including food, energy, and infrastructure.
