The Newfoundland and Labrador government accepted the Fish Processing Licensing Board recommendations and approved the sale of Quin Sea Fisheries Ltd. -- one of the largest fish processors in the province -- to Royal Greenland, according to CBC News.

Quin Sea operates six plants in Newfoundland and Labrador and processes about 11,000 metric tons of seafood annually, according to the news site.

"Our plan is to build upon this well-established, successful business, including operation of its plants and employment of its people," said Royal Greenland CEO Mikael Thinghuus, according to the news site.