Starflex and Thai Union to establish a new joint venture

BANGKOK – September 30, 2021 – Thai Union Group PCL (“Thai Union”) has today announced that its printing and packaging subsidiary, Thai Union Graphic Co., Ltd. (“Thai Union Graphic”) has signed an MOU to launch a new joint venture with Starflex PCL (“Starflex”), an industry leader in manufacturing and distributing high quality flexible packaging. The new company will be registered with a capital of THB 250 million and Starflex and Thai Union Graphic will each hold 51 percent and 49 percent of ordinary shares respectively.

Printhorn Apithanasriwong, President of Starflex, said, “Our first goal for this exciting new step will be to construct a new factory to produce and supply flexible packaging mainly for food. With more than 18 years of experience and a solid history of working together with Thai Union we believe that we can work to support them in their sustainability and packaging goals. This partnership will foster research and development of innovation and technology, leading to increased competitiveness and value-added services.”

Thiraphong Chansiri, President & CEO of Thai Union, said, “Thai Union is committed to sustainability, which is a key pillar of our global business. Mitigating the effects of our packaging on the environment and innovating in our design and production not only addresses key sustainability challenges, but also provides important business benefits. As part of our SeaChange® global sustainability strategy, we have made the commitment that 100 percent of our branded packaging will be reusable, recyclable or compostable by 2025. This new joint venture will help us reach that goal and we are looking forward to working closely with Starflex.”

About Thai Union Group

Thai Union Group PCL is the world’s seafood leader, bringing high quality, healthy, tasty and innovative seafood products to customers across the world for more than 40 years.

Today, Thai Union is regarded as one of the world’s leading seafood producers and is one of the largest producers of shelf-stable tuna products with annual sales exceeding THB 132.4 billion (US$ 4.2 billion) and a global workforce of more than 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.

The company’s global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, and Rügen Fisch, Thai-leading brands SEALECT, Fisho, Qfresh, Monori, Bellotta, Marvo and OMG Meat, and ingredient and supplement brands UniQ™BONE, UniQ™DHA and ZEAvita.

As a company committed to innovation and globally responsible behavior, Thai Union is proud to be a member of the United Nations Global Compact, and a founding member of the International Seafood Sustainability Foundation (ISSF). In 2015, Thai Union introduced its SeaChange® sustainability strategy. Find out more at Thai Union’s on-going work on sustainability issues was recognized when the company was listed on the Dow Jones Sustainability Indices (DJSI) for the seventh consecutive year in 2020, and ranked number two in the world on the Food Products Industry Index. Thai Union was also named to the FTSE4Good Emerging Index for the fifth straight year in 2020.