Dongwon tuna purse seiner. (Photo: Dongwon)
Dongwon partners up with Bright Food Group to sell more tuna in China
(SOUTH KOREA, 2/22/2013)
South Korean food giant Dongwon F&B informed this week that it has inked a partnership deal with Chinese firm Bright Food Group. The partnership will allow Dongwon to enter the Chinese canned tuna market more deeply with its products, and Bright Food Group will distribute and sell them.
Dongwon’s plan is to use Bright Food Group -- China’s largest food producer and distributor, with a distribution network of more than 10,000 large-scale discount and convenience stores -- to achieve annual sales of canned tuna worth USD 463.37 million by 2018 in China alone.
Dongwon F&B believes that the Chinese canned tuna market is budding and will grow exponentially as the Chinese middle class expands and people in general earn higher incomes, thereby letting these consumers increase their demand for fish products, MK Business News reports.
If its entry into China and partnership with Bright Food Group is successful, the Korean company intends to add more products to the deal.
Dongwon F&B originally began selling canned tuna in China via TV home shopping in 2011 and hit sales worth KRW 10 billion (USD 9.3 million) in 2012.
Dongwon Group was founded in 1969 and started out as a fisheries business, which later expanded into different sectors, including food and beverage manufacturing under the Dongwon F&B division. Dongwon F&B now owns 75 per cent of the canned tuna market share in Korea.
Dongwon Industries is one of the world's largest tuna fishing firms, and adds to StarKist's national brand recognition and distribution networks in the US to sell seafood to consumers worldwide.
Bright Food is a multinational food and beverage manufacturer operating out of Shanghai, China. It is the second-largest China-based food manufacturing company in terms of revenues in 2011.
This company has four listed subsidiaries: Bright Dairy & Food Co, Ltd, Shanghai First Provisions Store Co, Ltd, Shanghai Maling Aquarius Co, Ltd and Shanghai Haibo Co, Ltd.
By Natalia Real
[email protected]
www.seafood.media
Information of the company:
Address:
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275, Yangjae, Seocho
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City:
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Seocho
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State/ZIP:
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(137-135)
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Country:
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South Korea
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Phone:
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+82 2 5893065
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Fax:
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+82 2 5893286
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E-Mail:
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[email protected]
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More about:
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Approval / Accreditation / Certified / Oversight by...
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