As the Thai economy slowed down and stagnated, Thai companies have looked overseas to expand their business operations and minimize their exposure to local political and economic pressures. The biggest example of this has been Thai Union Frozen Products PLC (TUF) with their acquisition of the U.S. seafood company, Bumble Bee Seafoods for $1.5 billion. This was after TUF purchased a series of European seafood companies for another $1.2 billion. The acquisitions by TUF has allowed them to quickly expand into the American and European markets. This is considered a horizontal acquisition since it is a merger between two competing firms.
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