Thai firm restructures pet business in the U.S.
i-Tail, a subsidiary of Thai Union – a leading producer and exporter of frozen and canned seafood in Thailand, established i-Tail Americas to take care of its pet food business in the U.S.
The new company with a registered capital of 5 million U.S. dollars is expected to further strengthen Thai Union’s pet food business and support its growth in the sector.
Thai Union’s PetCare business has seen strong annual growth over the past few years, especially when people adopted more pets and spent more money taking care of them during the global pandemic.
“The establishment of i-Tail Americas will give us greater flexibility in managing our business as both domestic and global markets are growing strongly,” said Roy Chan, CEO of i-Tail. “We are committed to healthy living for all pets at i-Tail, and our Thai Union’s Global Innovation Center has been leading the way in Global PetCare Innovation and product development.”
The company’s plan is for i-Tail Americas to buy shares of U.S. Pet Nutrition, a distributor of pet food in the U.S. owned by Thai Union North America.
In the third quarter of 2021, PetCare and value-added sales surged 11.4 percent from the same period in 2020, thanks mainly to the strong demand for pet food in the market and its newly launched products.
Photo courtesy of: https://www.thaiunion.com/en/newsroom/press-release/