A New Brunswick-based seafood company is planning another expansion.
Cooke Aquaculture, in Blacks Harbour, has signed a letter of intent to buy Montreal-based Ocean to Ocean and its subsidiary, Ocean King Enterprises.
The companies market, import, process, and distribute seafood, including farmed salmon, wild scallops and haddock.
Their total annual sales are worth more than $40 million, according to Cooke Aquaculture officials.
The value of the deal has not been released.
Cooke officials have said they expect the deal to be finalized by the end of the month.
The purchase of the companies will add about 65 employees to Cooke's existing workforce of about 1,900.
Cooke Aquaculture was established in 1985 with a single marine cage containing 5,000 salmon.
Today, the company has operations in New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland, Maine and Chile, as well as sales offices in major centres across North America.