Sea Harvest, the fishing enterprise controlled by empowerment company Brimstone Investment Corporation, looks set to land its first acquisition in South African waters since listing on the JSE in March. A cautionary announcement released on Monday disclosed that Sea Harvest, which has hake operations in SA and a controlling stake in Australian diversified seafood business Mareterram, had started negotiations with unlisted Viking Fishing Holdings. Family-owned Viking has been in the news since it lost a sizeable portion of its inshore hake-fishing allocation, a development that the company vainly fought to overturn in court. The Viking deal is the third fishing sector acquisition undertaken by a black-owned company in 2017. In May, the unlisted TerraSan Group bought out fish canning specialists the Saldanha Group, while Premier Fishing, which also listed on the JSE in early 2017, snapped up a controlling stake in the Port Elizabeth-based Talhado squid-fishing business. An increase in...
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