Thai Union Group PCL (Thai Union) today announced the signing of a joint venture agreeme4ent with R&B Food Supply PCL (RBF) and Srinivasa Cystine Private Limited (SCPL) to launch a new company focused on serving high quality food ingredients to the Indian market.
This new partnership, facilitated by Thai Union, leverages the respective strengths of RBF, Thailand’s leading food ingredients company, and SCPL, an associate company of Avanti Group, which is a leader in aquaculture and marine food processing in India.
The new company will market RBF’s food ingredient products, including flavoring and coating, and will also over time potentially explore the setup of its own manufacturing facility in India.
The joint venture company will be registered in India with INR 100million authorized capital (INR 76million issued and paid-up capital). RBF, SCPL and Thai Union will each hold 51percent, 30percent and 19percent of the ordinary shares, respectively.
