Brazilian meat-processing giant JBS has made its first foray into the fish industry after a $425 million buyout of one of Australia’s largest salmon producers, Huon Aquaculture, was approved by shareholders including iron ore billionaire Andrew Forrest.

Dr Forrest’s Tattarang investment vehicle held 18.5 per cent of Huon and in the lead-up had threatened to vote against the deal, but backed it in a vote on Friday. A total of 99.8 per cent of shareholders voted for the $3.85-per-share offer.