Written by Kristine Jane R. Liu
Homegrown Alliance Tuna International, Inc. is looking at diversifying into other food products as part of its long-term growth plans.
In a briefing on Thursday, the tuna company noted that while tuna would remain its core business, it was looking at other products that will improve the company’s equity per share. “We are looking more for a transition into a food holding conglomerate. It’s one of our options and we are also [eyeing] non-seafood products,†Alliance Tuna President Jonathan Dee told reporters.
Mr. Dee said they wanted to invest in high-value products offered by companies in
Claire S. Quiray of Accord Capital Equities Corp. said Alliance Tuna’s diversification plan could improve its share value.
â€As long as the new business they plan to enter is related to food, that will be fine. After all, they already have the equipment and having a partner will open to them other markets,†the analyst said in an interview.
Ms. Quiray said Alliance Tuna’s international renown gives it an advantage, but it should not spin off its businesses once its diversification plan succeeds.
The tuna company has bought a controlling stake in a New Zealand-based salmon processing company, its first stride to go outside its tuna business and allow it to capture a huge market in the
The local company will pay Prime Foods New Zealand NZ$1.3 million (about P37 million) for its 50% plus one share in the salmon processor.
The two will set up a joint venture company here, majority of which will be owned by the tuna firm.
Mr. Dee said they had chosen the
Alliance Tuna is one of the firms which are listed in the Atuna Stock Index – click here to go to the Stock Index