Alliance Tuna up for purchase Vietnamese food processor
Alliance Tuna International, Inc (ATI) and Vietnam-based Hiep Thanh Seafood Joint Stock Company (HTS) signed a Memorandum of Agreement yesterday.
The MoA gives ATI an exclusive 90-day period starting on 5 July to conduct due diligence on HTS to invest in it.
ATI plans to invest a total of US$13.1 million for a 50% plus 1 share stake in Hiep Thanh.
HTS, located in Can Tho, is a member of the Hiep Thanh Group, Vietnam’s main private rice milling company.
The firm processes and exports pangasius and is one of the top 10 exporters of the fish in the country, owning pangasius aquaculture farms and feed mill processing plants.
ATI intends to utilise its existing marketing distribution channels to provide additional products to its seafood clients.
Direct access to major supermarket chains across the globe will make it possible for ATI to sell Hiep Thanh’s products to key buyers, increasing HTS’s profitability.
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