Towards the end of 2022, Thai Union Group has revealed its plan to establish to new companies under its subsidiary i-Tail Corporation PCL which is specialised on the production of premium wet pet food and treats.
In order to increase pet food sales in important Asian and European markets, the first new company named i-Tail (Shanghai) Co., Ltd. will be located in Shanghai, China and the second one, i-Tail Europe B.V., will be headquartered in Utrecht, Netherlands.
Pursuant to the company, the floatation of the two new businesses could be undertaken by dint of revenues of the company’s IPO on the Stock Exchange of Thailand (SET). The stock market launch of i-tail Corporation was in December 2022.
In the company’s fourth quarter 2022 financial results, Thai Union group also shared plans to commercialize an updated wet pet food and treat plant in the second quarter of 2023, which will expand the company’s capacity by more than 18% and include a new automated packaging line.
Thai Union group has also announced the expanion of its production capacity by commercializing an improved wet pet food and treat factory in the second quarter of 2023.
The i-Tail Corporation has recorded a sales revenue of 21.69 billion Thai baht ($633.5 million USD) divided in branded products (0.7%) and privat label business (99.3%). Thai Union’s pet food business produced about 140,311 tons pet nutrition in 2022, leading to an increase of 34% in the fourth quarter of 2022.