Chilean salmon farming and fishing giant Camanchaca said Thursday it will acquire full control of its fishing and processing joint venture Camanchaca Pesca Sur.

Camanchaca CEO Ricardo Garcia told attendees at the North Atlantic Seafood Forum that the acquisition will be the largest acquisition by the company "in years," bringing the profitable and growing division fully under its control.

Camanchaca Pesca Sur was established as a joint venture between Camanchaca and Chile's Stengel family in 2011.