Maruha Nichiro, the world's largest seafood company, has finalized the sale of Alaska seafood processor Peter Pan Seafoods, with the deal closing Dec. 31.

Tokyo-based Maruha Nichiro announced in November it reached a deal to sell the company to an investment group including Alaska-based private equity group McKinley Capital Management and Rodger May, the former owner of Washington State salmon farms now owned by Cooke Aquaculture, and current owner of the Northwest Fish Company.

The new vertically integrated Peter Pan Seafood Company is composed of Peter Pan Seafood’s assets and the value-added sales channels of Northwest Fish.