Canada-based Cooke Inc. has reached an agreement with Seattle-based Ocean Beauty Seafoods to merge their Alaska salmon operations, sources familiar with the deal told IntraFish.

The Bristol Bay Economic Development Corporation (BBEDC), which owns 50 percent of Ocean Beauty Seafoods, voted to approve the merger last week, the sources said. The deal is expected to close in the coming two weeks.

Under the terms of the agreement, Cooke's Icicle Seafoods and Ocean Beauty Seafoods' wild salmon businesses, including sales and marketing, will be brought together under a new company, OBI Inc.