Oceana confirms $382m deal for Daybrook Fisheries

South Africa’s Oceana Group has confirmed a deal with the parent company of US menhaden harvester Daybrook Fisheries, for $382.3 million.

The board of directors of Oceana has announced that it has concluded an agreement to acquire 100% of the the firm indirectly, by combination of a merger and stock purchase, for approximately ZAR 4.6 billion, which will be settled in cash.

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Oceana deal could spark new wave of US M&A

South African firm Oceana’s $382.3 million (€341.1 million) acquisition of US menhaden fishing and processing group DaybrookFisheries may embolden other foreign companies to begin investing in the fragmented US seafood sector, and put pressure on domestic players to get involved as well, according to Ignacio Kleiman of Antarctica Advisors, the sole US investment banking advisor on the Oceana deal.

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