Weekly Press Review – 22 May 2015

Oceana Group has made headlines this week with the news of the company’s purchase of US-based Daybrook Fisheries for an estimated R4.58 billion.  The purchase is in line with the company’s diversification strategy.

Daybrook reported R1.3bn in revenue last year with the sale of 76,862 tons of fishmeal and fish oil.

Keith McLachlan of Alpha Wealth said, “Oceana’s made a bold move into the American fishing industry ….. interesting asset, though still just a commodity.”

Also making headlines this week was the sad news of the passing of Murray Grindrod senior.  Grindrod was the grandson of Grindrod Group founder John Edward Grindrod.

He joined Grindrod Gersigny in 1957 and stayed with the company for a total of 50 years, serving as chairman for 21 of those years.  It is with a heavy heart that the maritime community says goodbye to one of its greats.  Grindrod was 79 years of age.

Brian Ingpen wrote in in his column this week,” With that vast experience, his amazing achievements and his own inherent wisdom, his was a highly respected voice that gave valued counsel on a range of maritime issues.  His dignity and personal integrity will remain the company’s cornerstones.  In Dockland, a giant cedar has fallen.”

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