Home Grown Alliance Tuna International, Inc. has decided to venture out into other food products, which is a part of its long-term growth plans. The tuna company has announced in a press conference that tuna would remain its core business it was looking at other products that will improve the company’s equity per share. Alliance Tuna President Jonathan Dee explained that the company is looking more for a transition into a food holding conglomerate. He added that the company is also eyeing non-seafood products.
According to Dee the company wanted to invest in high-value products offered by companies in Southeast Asia. Alliance Tuna exports tuna to the US, Europe and other Asian countries. Claire S. Quiray of Accord Capital Equities Corp. said Alliance Tuna’s diversification plan could improve its share value.
The analyst informed that 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. She also said that Alliance Tuna should not spin off its businesses once its diversification plan succeeds.
At the same time the company has acquired 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 Oceania region. The company ahs decoded to make huge investment in Philippines.
