Thai Union Group Public Company Limited (SET: TU) announced that in respect of the signing of a new joint venture agreement with R&B Food Supply Public Company Limited (SET: RBF) and Srinivasa Cystine Private Limited (SCPL), an associate of Avanti Group, to distribute high quality food ingredients in the Indian market.
The joint investment is in order to distribute high quality food ingredients such as flavoring and coating, and over time, will potentially explore the setup of its own manufacturing facility in India.
In this joint venture, RBF will hold 51% of the shareholding, while SCPL will hold 30% and TU will hold 19%.
