About Oceana Group

Oceana Group Limited operates as a fishing company worldwide. The company is an important participant in the South African, Namibian and the U.S.A. fishing industries. The company’s core fishing business is the catching, procuring, processing, marketing and distribution of canned fish, fishmeal, fish oil, horse mackerel, hake, lobster and squid. The business includes midwater trawling (horse mackerel), deep-sea trawling (hake), and inshore fishing for pelagic fish (anchovy, the Gulf menhaden species, redeye herring and pilchard). In addition, the company provides refrigerated warehouse facilities and logistical support services. The company markets and sells approximately 263,000 tons of fish and fish products to consumers across the consumer spectrum, in 45 countries in Africa, North America, Asia, Europe, and Australia. The company’s operations are split into four different business units: Canned Fish and Fishmeal (Africa); Fishmeal and Fish Oil (USA); Blue Continent Products (BCP): Horse Mackerel, Hake, Lobster and Squid; and Commercial Cold Storage and Logistics (CCS). Except for the U.S.A. operation, all other business units have operations in South Africa and Namibia. Canned Fish and Fishmeal (Africa) Lucky Star (Lucky Star Limited) harvests, processes, and procures small pelagic species; and markets and sells the derived products. The company’s pelagic business is conducted through Lucky Star and Amawandle Pelagic Proprietary Limited. The company’s primary product is canned fish, mainly pilchard, but also tuna, sardine and mackerel all of which are marketed under the Lucky Star brand. The brand has expanded into adjacent protein categories, including canned meat, chakalaka and baked beans. Lucky Star also markets fishmeal and oil in South Africa and internationally, primarily for the aqua feed and animal feed sectors. Fishmeal and Fish Oil (USA) Daybrook (Daybrook Fisheries Incorporated) is involved in the harvesting and processing of the Gulf menhaden species, and in the marketing and selling of derived fishmeal and fish oil products. The fishmeal is processed using the application of an indirect drying process that enables the company to provide customised products required for specialised diets in various high-performance feeds. Daybrook produces prime pet food and FAQ (fair average quality) grade fishmeal primarily for the aquaculture, hog farming and speciality pet food industries. Daybrook also produces an omega-3-rich crude fish oil that is utilised by the aquaculture feed industry and to a lesser extent into the beef and dairy cattle feed industry. BCP: Horse Mackerel, Hake, Lobster and Squid The company’s horse mackerel fishing business is conducted through its subsidiaries, such as Blue Continent Products Proprietary Limited (BCP) in South Africa, and Erongo Marine Enterprises (Proprietary) Ltd (Erongo) in Namibia. Catches are processed at sea into frozen packs in the format required by targeted markets. All the company’s vessels on each trip carry scientific observers or fisheries inspectors, who act as compliance observers. Horse mackerel is in high demand as an important source of affordable protein in Southern, Central and West Africa. The company’s hake business is conducted through BCP and Amawandle Hake (AH). The hake deep-sea trawling fleet supply headed and gutted (H&G) hake to local and international markets in frozen form. The company’s lobster and squid business units are involved in the catching, processing and marketing of West and South Coast rock lobster and squid. CCS CCS engages in the primary storage and handling of mainly perishable products on behalf of major manufacturers, exporters and importers. The location of the company’s cold stores, the range of services offered and the ability to integrate these services into the outbound supply chain of customers, are key drivers in high storage occupancies in the cold storage industry. CCS continues to play an instrumental role in enabling effective implementation of Lucky Star’s frozen fish strategy. Markets The company is a diversified fishing group that harvests and procures fishing resources from four coastlines across five countries. Trading in multiple species with products sold in 45 countries remains one of the strengths of the company. Lucky Star is a participant in the South African pelagic fishery and market leader in the canned fish category across South Africa and several other African markets. Its South African brand is enjoyed by over 4 million people daily. The largest fishery that the company operates in, through Daybrook, is the USA Gulf menhaden, which has a total biomass of 5.2 million tons. BCP is a rights holder of horse mackerel in South Africa and Namibia, as well as a participant in the South African hake fishery. BCP relies on its commercial fishing rights allocation, as well as the allocation of joint venture partners, to maintain sufficient scale to optimise its operations across the value chain. 57,000 tons of horse mackerel sold to markets across Africa and 8,500 tons of hake sold to Europe. Strategy The company’s strategy includes protecting and optimising its existing African quota businesses; delivering organic growth by growing the company’s core businesses; ensuring consistency and growth in earnings through diversification; engaging stakeholders and managing reputation; and ensuring good governance and sustainability. The company’s core purpose is to be a leading global fishing and commercial cold storage company. Regulation The company’s vessel compliance is audited through regulatory bodies, including SAMSA and Department of Environment, Forestry and Fisheries (South Africa) in South Africa; and DMA in Namibia. History Oceana Group Limited was incorporated in 1918.