Bangkok — June 28, 2021 — Thai Union Group PCL and V Foods (Thailand) Co., Ltd. have recently signed a memorandum of understanding to develop and expand their plant-based food businesses.
Under the MoU, the two companies will collaborate in exploring the utilization of Thai Union’s manufacturing facilities to produce both V Foods’ existing products and new products it will develop. They also intend to co-develop new product initiatives and to expand further into domestic and international markets where each of them have expertise.
Caption: Thiraphong Chansiri, CEO at Thai Union Group, and Apirak Kosayodhin, CEO of V Foods (Thailand), sign the MoU to collaborate on plant-based products.
“At Thai Union, innovation is crucial in developing and growing our business, and alternative proteins are an important innovative product that we aim to deliver to meet the needs of consumers,” said Thiraphong Chansiri, CEO at Thai Union. “We are pleased to start our journey with V Foods, whose vision on innovation and food is a great fit for our core values. We look forward to working with them.”
Apirak Kosayodhin, CEO at V Foods, said, “V Foods puts innovation at the heart of its business, starting from research and development to quality sourcing from the farmer network, in order to offer quality food to consumers who are more focused on their well-being, are environmentally-conscious and therefore looking at sustainable food. We are excited about the opportunity to collaborate with Thai Union on alternative proteins and ready-to-eat, plant-based food, and to drive growth in the Thai market while continuing to explore international markets.”
V Foods’ ‘V Farm’ is currently Thailand’s leading brand in ready-to-eat sweet corn and corn milk, with number one market share. It also offers other products including More Meat plant-based protein and V Farm plant-based food.