Canada-based Cooke Aquaculture announced the acquisition of Virginia-based Wanchese Fish Company on Friday, saying the deal and investment into the wild fishery "involves the creation of a new company, Cooke Seafood USA."

"This purchase is an exciting venture for us as we add a well-respected, family-owned and vertically integrated fishing company to our family’s businesses," CEO Glenn Cooke said.

"We have found many similarities in our corporate cultures, not only a strong focus on family values but also on investment in a well-managed and third party certified fisheries (MSC) – investments that are core to our family’s business philosophy.”