A Herdez tuna product. After Europe, Herdez will target Asian markets India and China. (Photo: Herdez)

Herdez looks for new markets for its tuna

MEXICO
Monday, May 17, 2010, 09:50 (GMT + 9)

Food manufacturer Herdez is preparing to enter the markets of Europe and Asia, where it is even trying to produce some of its brands.

These plans mark the next stage of the company’s expansion strategy, following their conquest of the US market through the signing of alliances with Hormel Foods and the Kuo Group.

According to Hector Hernandez Pous, president and director-general of Herdez, it already has the support of the Embassy of Great Britain to enter that country with brands like Doña Maria and its tuna division.

"The European market represents a very significant opportunity, mainly England, since it is one of the countries that consumes the most Mexican food,” the executive maintained.

For Hernandez, it is more likely that the entry into the Community market be carried out through an alliance with a company that knows the surroundings better.

As from that entry, it plans “to segway” to India and other Asian markets, which “are very well dominated by the English,” he added.

“We are interested in the possibility of entering the Asian markets, like India and China. We know that we can obtain it by means of an entry into the European Union, which will be our next step,” said the executive in an interview with Milenio.

The Herdez executives also do not discard acquiring a sector company.

"The truth is, if it interests us to acquire another company, we are always open to that possibility and it is a question of finding opportunities that satisfy the requirements to make a good acquisition and one which brings added value," Hernandez indicated.

In Mexico, they also plan the construction of a new centre of distribution in Teoloyucan, which will be equipped with the latest technology, and the purchase of a tuna fishing boat to prop up the production and commercialisation of this product in the country, the US and next in Europe.

"The tuna market interests us. It is an area on which we are wagering and we expect the support of the government so that it maintains the benefits to seafood boats, because otherwise we will have a disadvantage with other countries," he concluded.

Herdez owns 10 plants and 9 distribution centres located in different Mexican states and employs more than 6,000 workers.

In 2009, the company registered income worth MXN 8.26 million (USD 668,500).

By Analia Murias
editorial@seafood.media
www.seafood.media

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