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Phelps Dunbar Handles Transaction for Daybrook Fisheries

The firm’s New Orleans Business Group recently closed the sale of Daybrook Fisheries, a major U.S. menhaden harvester, to South Africa’s Oceana Group. The company also sold to the purchaser 25% of the now separate company Westbank Fishing that conducts the fishing fleet operations.  The firm represented the shareholders of the longtime firm client in the transaction. The deal was structured to comply with the American Fisheries Act. The Sellers will remain with the business to operate the vessel fishing company and as consultants to assist Daybrook Fisheries for the Oceana Group.  New Orleans partners Jim Stuckey, Mark Fullmer and Brian Wallace led the firm’s representation on the matter.   More details about the transaction can be found here.