Iceland Seafood International (ISI) announced Thursday it has completed the acquisition of Spanish salmon smoker Ahumados Dominguez, entering the salmon retail market in Spain for the first time.

The group initially announced it had inked a deal for the acquisition on May 17.

It has now been finalized and ISI will acquire an 85 percent stake in the company for €12.44 million ($14.7 million).

Pedro Mestanza, managing director of Ahumados Dominguez, will continue to lead the company after the acquisition, and will hold a 15 percent minority stake.