Canadian seafood giant Cooke Aquaculture is in the final stages of acquiring Latin American shrimp producer Seajoy, with a further announcement due by Christmas, reports The Telegraph-Journal.

Speaking at a round-table meeting with Cooke group executives from around the world, CEO Glenn Cooke said the company is in the final stages of acquiring "one of the largest" Latin American shrimp farming companies.

"We are in the process of getting everything approved," said Cooke, "but we have basically bought one of the world's largest shrimp operations."