US restaurant and seafood group Phillips Foods has acquired a seafood plant in Vietnam.
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The central Khanh Hoa province-based Hai Vuong company sold its seafood plant to Phillips for an undisclosed sum, reported the Vietnam Economic News. The plant covers 7,200m2 and will be used to process crab meat and seafood harvested off the Asian coast.
The deal gives Phillips its thirteenth location, of which 11 are overseas.
