Salmon producer Scottish Sea Farms (SSF) has SLOTXO bought Norwegian rival Grieg Seafood's entire Scottish operations in a deal worth £164m.
The acquisition will see SSF take over 21 sites across Shetland and Skye.
They include marine farms, freshwater hatchery and a processing facility, which harvested about 16,000 tonnes of Atlantic salmon last year.
SSF said the deal was a "strategic move", in part to meet rising demand for premium quality Scottish salmon.
Scottish Sea Farms - which is co-owned by Norwegian firms Leroy Seafood Group and SalMar - runs operations across mainland Scotland, Shetland and Orkney.
It produced about 24,000 tonnes of Atlantic salmon in 2020.
Grieg Seafood, which employs more than 200 people, announced last year that it planned to sell its Shetland operations after its markets were hit by the Covid-19 pandemic.
The company had previously stated it would cease operations at its five farms on Skye after last year's harvest was completed.
Grieg said at the time that its decision on the future of the Skye sites had been expedited by high fish mortality rates at three of the farms.