HOUSTON, TX – February 22, 2017 – Omega Protein Corporation (NYSE:OME), a nutritional product company and a leading integrated provider of specialty oils and specialty protein products, today announced that the Company and its Board of Directors have initiated a strategic alternatives review for the Company’s human nutrition business segment. This review, designed to increase shareholder value, involves a thorough evaluation of the Company's current operating plan and may result in the Company continuing to pursue internal value enhancing initiatives, a sale of the human nutrition business segment or certain of its assets or another form of strategic transaction with respect to the human nutrition business segment or certain of its assets.
“The Board of Directors consistently evaluates ways to increase shareholder value. We believe the animal nutrition business segment is well positioned to capitalize on opportunities for future growth and the Company will remain focused on internal initiatives to further enhance its operating and capital efficiencies,” said Gary R. Goodwin, Omega Protein’s Chairman of the Board. “At the same time, we continue to carefully consider the performance of the human nutrition segment and believe this is an appropriate time to undertake a comprehensive strategic review.”
J.P. Morgan Securities, LLC has been engaged to serve as financial advisor for the specialty oils and nutraceuticals operations and BMO Capital Markets Corp. has been engaged to serve as financial advisor for the dairy protein products operations.
There can be no assurances that this strategic review will result in any specific action, or as to its timing. The Company does not intend to comment further regarding the review until the Board of Directors approves a specific action or transaction or otherwise concludes its review. In connection with the strategic review, the Company has suspended its previously announced stock repurchase plan.
About Omega Protein Corporation
Omega Protein Corporation (NYSE: OME) is a century old nutritional product company that develops, produces and delivers healthy products throughout the world to improve the nutritional integrity of foods, dietary supplements and animal feeds. Omega Protein's mission is to help people lead healthier lives with better nutrition through sustainably sourced ingredients such as highly-refined specialty oils, specialty protein products and nutraceuticals.
The Company operates seven manufacturing facilities located in the United States, Canada and Europe. The Company also operates more than 30 vessels to harvest menhaden, a fish abundantly found in the Atlantic Ocean and Gulf of Mexico.
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