Greek fish feed manufacturer Irida announced Tuesday it has acquired a majority stake in seabass and seabream producer Galaxidi Marine Farm.

The company now holds an 83.5 percent stake in the farmer.

Established in 1987, Galaxidi Marine Farm produces 15,500 metric tons of fish annually, of which 13,500 metric tons are produced in Greece in the Corinthian Gulf and 2,000 metric tons in L’Ametlla, Spain.

Around 98 percent of the company's production is exported to Europe, mainly to Spain, Italy, Germany, the Czech Republic, France, Switzerland and Austria.