Oceana Buys Foodcorp Division for Increased Fishing Rights

Oceana Group Ltd., South Africa’s biggest seller of canned fish, agreed to acquire Foodcorp (Pty) Ltd.’s fishing unit for 445 million rand ($45.9 million) to extend operations.

The acquisition is “in line with Oceana’s strategy to acquire additional fishing rights and to pursue growth in its existing areas of activity,” the Cape Town-based company said in a statement today.