Spanish investment giant Corporacion Financiera Alba has, through its wholly-owned subsidiary Alba Europe, acquired a 23.71 percent stake in Profand Fishing Holding -- one of Spain's largest seafood companies -- for €100 million ($118.1 million).

The investment was made through the purchase of shares and the subscription of a capital increase to support the company's growth and is expected to be completed before the end of the year.

Profand is one of Spain's leading fishing companies, a long-time supplier to retail chain Mercadona, and a world leader in the fishing and marketing of cephalopods, as well as in the sale of fish in protective atmosphere trays.