Norway-based investor Amar Group has acquired Halibut PEI, a land-based, closed-contained halibut farming operation located in Prince Edward Island, Canada, the company announced Tuesday.

Amar acquired Halibut PEI's halibut facility and broodstock just months after the company declared bankruptcy.

Halibut PEI has been raising fish since 2009 using geothermal saltwater wells.

Amar Group said it plans to build on its experience with Atlantic wolffish and halibut farming in Canada and Norway.