Spanish fishing firm Iberconsa closed a deal to acquire a majority stake in Argentinean shrimp firm Pesquera Santa Cruz.
With the deal, the company will acquired six shrimp vessels and two squid vessels, as well as a processing plant.
"With this operation, Iberconsa became the world's leader in production and trade of southern shrimp and hake," the company said.
In 2017, Iberconsa landed 25,000 metric tons of southern shrimp in Argentina.
Iberconsa now owns 42 vessels in fishing grounds in Namibia, Argentina and South Africa, as well as four frozen fish processing plants.
