Korean food and financial conglomerate Dongwon Group said Friday it plans to take over a Senegalese cannery for $21 million as part of efforts to expand its presence in Africa and Europe.
Dongwon said it will establish a new entity in the African nation after purchasing SNCDS, one of the largest canneries in Senegal.
SNCDS produces 25,000 tons of canned tuna and other fishery products per year.
Dongwon Group’s affiliates include Dongwon Industries Co., the world’s biggest tuna fishing company, and Dongwon F&B Co., a processed food maker.
In 2008, Dongwon took over the StarKist division of Del Monte Foods Co. for $359 million, which controls some 40 percent of the U.S. processed tuna market.
(Yonhap News)
