MANILA, Philippines -- Canned fish exporter Alliance Tuna International Inc. has jacked up its stake in New Zealand's second largest smoked salmon processor Prime Foods NZ Ltd. as part of its overseas expansion.

In a disclosure to the Philippine Stock Exchange, Alliance Tuna said it had raised its stake in PFNZ to 50 percent plus one share from 39.4 percent previously.

Alliance now has one million and one PFNZ shares.

The additional shares were acquired for NZ $1 per share, or the par value of its stocks. The balance out of PFNZ's two million outstanding shares is by Henry Studholme, acting as trustee for HC & JW Studholme Trust.

PFNZ carries both hot and cold salmon and also produces smoked New Zealand Green Lip Mussels and other food items. Its smoked seafood factory is located in the village of Hororata, Canterbury under the Southern Alps of New Zealand?s South Island.

Alliance Tuna started commercial operations in 2004 for tuna processing, canning, and export of canned tuna products in General Santos City in Mindanao.

It exports to over 50 countries in Europe, North America, Asia, Africa and South America as a "private label manufacturer" of canned tuna - processing and canning tuna in institutional and retail can sizes using its customers' brands.