Amar Group has acquired Halibut PEI, a land-based, closed-contained halibut farming operation located in Prince Edward Island, Canada. Halibut PEI declared bankruptcy just a few months ago. It has been raising fish since 2009 using geothermal saltwater wells.

According to the Norway-based investor, the plans are to build on its experience with Atlantic wolffish and halibut farming in Canada and Norway. Amar Group is an investor in Blue Future and it is also a backer, alongside Global AS, of American Aquafarms.