Canadian giant High Liner Foods announced Thursday it plans to invest in Norwegian cod farming group Norcod.

The company said it would make a $5 million (€4.6 million) investment into the Trondheim, Norway-based group for a 10 percent ownership stake.

High Liner's investment is part of a NOK 170 million (€14.8 million/$16 million) capital raise Norcod expects to close by next month.