Chicken of the Sea’s Post

TNA’s Chief Sales Officer, Eric Geling, will participate in Food Manufacture’s roundtable on 12th March, discussing operational optimisation in uncertain and volatile times. Food manufacturers face significant challenges. Tensions have been pushed to breaking point as a result of events such as the Suez Canal blockage, the Black Sea turbulence following the Russian invasion of Ukraine, and the Red Sea conflict, leading to significant disruptions to shipping routes and therefore supply chains. As a result, a number of experts in logistics and machinery have been brought together by Food Manufacture to provide expert insight into what can be done to minimise disruption in the sector. Eric will join Ian Wright, Co-Chair of the Government’s Food & Drink Export Council, Rod Addy, Head of the PTF, Katie Birrell, Board Member and Head of International Sales at Nairn’s Oatcakes Ltd, and Dr Liliana Danila, Lead Economist for the FDF. His participation will provide deep insights into the effects of global uncertainty on food manufacturers, looking at critical areas in production such as resource efficiency, waste and energy reduction, and profitability. Eric intends to provide food and beverage industry leaders with valuable points of strategic focus, helping them, to build resilience as they continue to deliver for global consumers. The discussion will take place on 12th March. For more information on how to take part, click here: https://lnkd.in/g4Y5Wjn9 #TNAsolutions #FeedingAmbitions #FoodPackaging #FoodProcessing #Foodmanufacturing #FoodManufacture

When seafood conglomerate Thai Union Group became Red Lobster’s leading shareholder in 2020, gaining 49% control of the chain, Red Lobster employees were assured Thai Union would not interfere in key decisions. Thai Union will “not be involved in Red Lobster’s day-to-day operations, including [its] supply chain standards and processes,” according to a document titled “Seafood Supplier Talking Points” viewed by CNN that was approved by top Thai Union and Red Lobster executives. “We intend to maintain relationships with all current seafood suppliers,” the talking points said. Those pledges didn’t last. By 2022, representatives from Thai Union in Thailand, whose $4 billion empire includes brands like Chicken of the Sea and John West Foods, were embedded in Red Lobster’s Orlando headquarters, serving in top roles and closely directing the largest seafood restaurant chain in the world. Now, Red Lobster has drowned in a relentless supply of Thai Union-supplied shrimp. Red Lobster filed for Chapter 11 bankruptcy Sunday, and it plans to sell its business to its lenders. In turn, Red Lobster will receive financing to stay afloat. Thai Union’s damaging decisions drove the pioneering chain’s fall, according to 13 former Red Lobster executives and senior leaders in various areas of the business as well as analysts. All but two of the former Red Lobster employees spoke to CNN under the condition of anonymity because of either non-disclosure agreements with Thai Union; fear that speaking out would harm their careers; or because they don’t want to jeopardize deferred compensation from Red Lobster. https://lnkd.in/eAcjcH2D

Is the supply chain debacle of the restaurant business? A producer buying their customer and increasing their dependence of their own supplied product. Thai Union, a seafood supply company, formed an investment group and bought controlling interest in Red Lobster. And then they proceeded to move their management team into positions of power at Red Lobster. Management with little or no restaurant experience. ✔️They eliminated other suppliers, even though Thai Union shrimp was higher cost. ✔️They hired and promoted management with no or little US experience. ✔️They cut back on floor staff. ✔️They pivoted to shrimp focused dishes. ✔️They ran disastrous promotions. And now here we are with the company bankrupt and blaming the management team they hired. While this article doesn't address which creditors / companies will suffer from the bankruptcy I would imagine Thai Union is limiting their own financial exposure. Article link below. #restaurant #supplychain #bankruptcy #Asia #Thai #internationaltrade #redlobster #fdi #food #seafood LINK: How a global seafood giant broke Red Lobster https://lnkd.in/gzeBcgAP

Preparations are in full swing for the Australian Food and Wine Collaboration Group’s next export market activation, taking place in Taiwan in November. Taiwan is the fifth destination for the group, which is targeting high-value export markets throughout Asia to increase exporting opportunities for Australian farmers and premium food and beverages. The Collaboration Group is leveraging the strength of the five member organisations, which includes Seafood Industry Australia along with Wine Australia, Dairy Australia, Hort Innovation, and Meat & Livestock Australia, to deepen connections with Taiwan, advance bilateral trade and improve market access. For Seafood Industry Australia, Taiwan has a long-standing demand for premium Australian seafood. Taiwan has the potential to become a more profitable market for Australian Seafood exporters with live and frozen lobster, scallops, abalone and octopus leading the way. Read more: https://lnkd.in/gtUyvm_r

The South Australian Government will provide a $1.85 million China Re-Engagement Support Package for South Australian wine exporters and grape growers. 🍷🍇 The announcement follows China’s decision to remove all #trade barriers on Australian #wine, as a result of concerted efforts by both the state and federal governments to stabilise the trading relationship between the two nations. The support package will provide South Australia’s wine sector with in-market insights and capability building to effectively re-engage with the #China market in a risk-managed way. The China Re-engagement Support Package was developed by the Department for Trade and Investment in collaboration with the South Australian Wine Industry Association and the Department of Primary Industries and Regions. The support package comprises five key components: · Two-way market activation and immersion · Promotional marketing and communication campaigns · Wine export adviser · Technical cooperation · Exporter capability building Full story 👉 https://ow.ly/7qG650R757N Learn more about the support package 👉 https://ow.ly/NFxc50R758h #SouthAustralianWine #Export 📸 Image credit: South Australian Tourism Commission Marianne Duluk | Ann-Marie Battista | Hugh Waterman | Tim White | Anthony (Ant) Grundel | South Australian Wine Industry Association | Department of Primary Industries and Regions

ICYMI: We spoke to Utham Gowda, founder of our portfolio company Captain Fresh to learn about what inspired his journey to reshape India's seafood supply chain. See how Utham went from spotting a gap in the market to creating a model that turned Captain Fresh into India's largest seafood distributor in a matter of months. In his words “When you look at countries endowed with similar resources, there are a number of seafood companies making $5-15 billion, but in India, the largest is bringing in $150 million. There is no reason why we can’t change that.” More on our investment in Captain Fresh here: https://lnkd.in/d9FnYjmu

Captain Fresh Acquires Poland-based Salmon Producer Koral. We are excited to announce that Captain Fresh, a leading seafood supply chain firm based in Bengaluru, has acquired Koral, a renowned producer and distributor of branded salmon products in Poland. This strategic acquisition was made in partnership with Abris Capital Partners, a specialist in ESG transformation, and Koral's founder, Boguslaw Kowalski. The transaction is subject to regulatory approvals, including the Polish antimonopoly office. This move follows Captain Fresh's recent acquisitions of CenSea, an American frozen seafood importer, and SENECRUS, a French shrimp cooker and distributor. With Boguslaw Kowalski and Justyna Frankowska at the helm of our global salmon strategy, Captain Fresh is set to make significant strides in the $33.5 billion global salmon market. Koral, known for its SuperFish brand, operates 26 production lines and processes 120 tons of fish daily, serving both domestic and international markets. Founded in 2020 by Utham Gowda, Captain Fresh offers a wide range of seafood products through its online B2B platform. Backed by major investors like Tiger Global Management, Prosus Ventures, and Z47 (fka Matrix Partners India) India, Captain Fresh has raised $165 million and is on track to close the financial year with a revenue run rate of $650 to $700 million. Stay tuned for more updates as we continue to expand and innovate in the seafood industry! Read More: https://lnkd.in/gvYRhyYB #CaptainFresh #KoralAcquisition #SeafoodIndustry #GlobalExpansion #B2BPlatform #Investment #SalmonMarket #SeafoodSupplyChain #ESG #VentureCapital

Australia Launches Task Force to Combat Wine Glut and Boost Industry 🍇 Australia's wine industry gears up for revitalization with the launch of a new government-backed task force aimed at addressing the sector's oversupply and enhancing demand. In a collaborative move by President Anthony Albanese's government, the initiative seeks to foster regional tourism and support the financial stability of growers. 🌱 The task force, a collective effort involving industry giants Wine Australia and Australian Grape and Wine, alongside Commonwealth, state, and territory representatives, was established following a productive dialogue among agriculture ministers. This strategic group is tasked with devising actionable recommendations to mitigate the challenges plaguing the viticulture sector. 📈 Lee McLean, CEO of Australian Grape & Wine, expresses optimism over the formation of the working group, emphasizing its critical role in navigating the industry through its current hardships. With an eye on rebalancing supply and demand, the focus is also on uplifting regions under severe financial strain, such as Riverland, Riverina, and Murray Valley. 🔍 The backdrop to the industry's tribulations includes punitive tariffs by China in 2020, significantly impacting Australian wine exports. Although there's hope for an imminent resolution, the path to recovery is expected to be gradual, underscoring the importance of the task force's mission. 🚀 With plans to report findings by April 2024 and propose actionable steps by July, the initiative symbolizes a united front between the Australian Government and the grape and wine sector. McLean lauds this partnership as pivotal for the industry's future prosperity, setting a positive course for businesses within the sector. #AustralianWine #Viticulture #Agriculture #WineIndustry #EconomicRecovery

[HGF’S SEAFOOD BREAKING NEWS] – No.01 May 2024 In the initial months of 2024, we have observed a modest rise in the export prices of seafood, though they still linger at lower than desired levels. Please take a moment to review the detailed analysis in the attached document. Compiled with diligence by the HGF Sales team, this newsletter provides comprehensive updates on Vietnam's principal seafood exports such as pangasius, shrimp, tuna, and other in-demand seafood products. We believe this information will be immensely useful for those passionate about the seafood business. By the way, don’t forget to follow the Huy Hoang Global Food page to consistently receive the latest insights and developments in the seafood industry from Vietnam and across the globe on a weekly basis! For further information and inquiries, please feel free to contact us at: ✉ sales5@huyhoangseafood.com.vn 📱 WhatsApp: +84 333 536 060 🌐 www.huyhoangseafood.com.vn   #HuyHoangGlobalFood #seafoodsupplier #suppliers #breakingnews #vietnameseseafood  #pangasius #vannamei #shrimp #tuna #import #export