Premium Pet Food Expands Margin

Background

Asian Seafoods Coldstorage Public Company Limited is a smaller player in the Thai seafood market, with five domestic production facilities which produce frozen, canned and pouched seafood, as well as fish feed.

The company also sells high-end pet foods. Of total sales 80% are exported.

Business Description

ASIAN started as a frozen seafood maker and distributor, which still accounts for almost half of its business revenue.

The group subsequently branched out into supplying fish feed to fish farmers, and making canned and pouched tuna which together account for 28% of sales. Most recently, the firm has made a big move into the area of premium pet food, which was 28% of total sales in 9M17.

The frozen seafood division product line-up is comprised of shrimp sold for use in tempura in Japan, and other frozen shrimp, tuna and squid products. Some frozen seafood is sold under its own company brand, while the rest is sold under other seafood company labels.

Of its five plants, three are for frozen seafood production, one is for fish feed, the fifth is for canned and pouched tuna and premium pet foods.

Pet food is currently the fastest growing business of the group thanks to high demand for premium pet foods which are exported to the developed markets. ASIAN also works on product development with its clients that own premium pet food brands.

Leadership

Somsak Amornrattanachaikul is the Chairman and CEO of Asian Seafoods Coldstorage and its subsidiaries. He has served in this position since 1999 and personally holds 45 percent of shares of the company. This number totals up to 72 percent of outstanding shares held by him and his family. Along with other professional qualifications, he has completed a BA Political Science from Ramkhamhaeng University.