The American canned tuna industry is now pretty much entirely Asian-owned.

Thai Union Frozen Products, already the biggest canned tuna company in the world, is on the verge of acquiring Bumble Bee Seafoods, the largest canned tuna company in North America, for a reported $1.5 billion. The deal, if approved, would further cement Thai Union’s dominance by making it the biggest canned tuna producer in North America, the world’s biggest canned tuna market. It would also mark the sale of yet another American canned tuna behemoth to an Asian firm.

The buyout is the latest example of what has been a rapid consolidation of the global seafood industry, a response to changing consumer demands and fluctuating costs, according to analysts.

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