Search:  
Western Cape Business News
559
VIEWS

Send  Share  RSS  Twitter  04 Oct 2011

FISHING: Brimstone Can Thank Its Lucky Star

 



Recent Western Cape Business News

WHILE the broader food sector has been very rewarding for investors, there is a perception that rewards have not been so easily snagged in the fishing sector.

Early investors in Pioneer Foods or poultry group Astral Foods have chalked up near legendary gains over the last decade. But fishing companies seem to have lagged – hampered by regulations, a strong currency, higher costs and changing fishing patterns.

Cape-based empowerment company Brimstone, however, has made a very solid return on its long-standing investment in diversified fishing group Oceana.

Oceana, which owns the well-known Lucky Star brand, was one of Brimstone’s first investments way back in 1996.

The newly founded empowerment company paid R176 million for a strategic holding in Oceana, setting up what one might regard as an ‘anchor investment’ around which Brimstone has managed to build a sound investment portfolio.

Currently the market value of Brimstone’s holding in Oceana is close to R450 million – more than double the initial investment.

Brimstone, which still has R149 million of outstanding preference share funding in Oceana, is locked in until 2016 – a time at which the investment may have shifted ahead by a few more knots.

Brimstone also has a second look at Oceana via its status as empowerment partner at food conglomerate Tiger Brands. Tiger is the majority shareholder in Oceana.


 
 
 
Business Profilesback-care-solutions-cape-townnatural-pain-relief-products-cape-townlighting-and-design-cape-townweb-design-cape-town
 
   
 
 
 
  Accomodation
Accommodation


Online Foreign Exchange
Foreign Exchange


Directory
Directory


Fax
Fax 2 Email


Finance
Finance


Furniture
Furniture


Casino
Online Casino


Restaurant
Restaurant


Auctions
Shop Online


Study IT
Study IT Online


Web design
Web Design


Weddings
Weddings


Work
Work from Home
 
 
 
 
 
Company News
 
 

 

© 2018 www.wcbn.co.za. All rights reserved.

Daily Newsletter Subscription

 

Subscribe to the Western Cape Business News Daily News and information email (it's free).

Thank You
Your email address has been added.

Name:
Email Address: