Thai seafood company snaps up Atlantic lobster processor

The Thai seafood company that owns Chicken of the Sea Frozen Foods is acquiring a majority stake in a Canadian lobster processor in New Brunswick.

Thai Union Group PLC didn't disclose how much it will invest in Les Pecheries de Chez Nous. But it said Pecheries' current chief executive, Francois (Frankie) Benoit, will retain a minority stake.

Chez Nous has its office about 220 kilometres north of Moncton in the coastal community of Tracadie-Sheila, N.B.

It employs up to 200 workers at the height of lobster season and generated $50 million in revenue in 2015, according to Thai Union's announcement from Bangkok.

Thai Union says its acquisition of New Hampshire-based Orion Seafood International in 2015 made it one of the largest sellers of North Atlantic lobster in the United States. It expects to solidify that position with the addition of Chez Nous.

Thai Union describes itself as the world's largest producer of shelf-stable tuna products with annual sales of US$3.7 billion and a global workforce of 46,000.

Its brands include Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar and Rügen Fisch.