Thai Union Frozen Products Pcl >, the world's largest producer of canned tuna, is seeking acquisitions to boost sales next year to $5 billion, its chief executive said on Thursday, declining to specify any potential targets. Shares in Thai Union, which makes "Chicken of the Sea" brand tuna and counts Wal-Mart Stores Inc and Costco Wholesale Corp among its clients, surged last month on speculation it could be interested in buying Bumble Bee Foods, the largest canned tuna and sardines producer in North America.Bumble Bee Foods is preparing a sale process that could value it as much as $1.5 billion, according to people familiar with the matter.Asked whether Thai Union was interested in the U.S. firm, President and CEO Thiraphong Chansiri told Reuters there were various assets on the market right now that could be potential acquisition targets. He declined to give details."We have a long-term target to achieve sales of $8 billion in 2020. Before that we need to move closer to next year's target of $5 billion and we need to invest more on acquisitions to meet the target," he said. Thai Union expects to make $4 billion in sales in 2014.
Costco Wholesale Corporation (Costco) with its subsidiaries is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, and through majority owned subsidiaries in Taiwan and Korea. Shares of COST fell by 0.31% or $-0.37/share to $118.64. In the past year, the shares have traded as low as $109.50 and as high as $126.12. On average, 1782070 shares of COST exchange hands on a given day and today's volume is recorded at 1458110.
Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT fell by 0.26% or $-0.19/share to $74.03. In the past year, the shares have traded as low as $71.51 and as high as $81.37. On average, 5937060 shares of WMT exchange hands on a given day and today's volume is recorded at 6619067.
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