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ACON creates sustainable scallop, lobster-fishing major with triple buyout, merger

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ACON Investments has created a new major player in the sustainable scallop and lobster industry through the buyout and merger of Northern Wind, Suncoast Seafood and Raymond O’Neill & Son Fisheries.

The new Atlantic Sustainable Catch platform employs close to 600 employees across five locations in Massachusetts and New Brunswick, supplying large retailers, restaurant groups and food distributors.

Adam Kriger, executive partner at ACON, said, “Consumer demand for sustainable, high quality, great tasting, good-for-you proteins continues to explode. ASC and its suppliers and customers are ideally positioned to meet these growing needs.”

ACON partner Suma Kulkarni added, “We have a deep appreciation and respect for the leaders of this platform.

“They have trusted us with their partnership and we look forward to supporting their continued growth, both organically and through a focus on further add-on acquisitions, as leading providers of sustainably sourced premium seafood.”

Acon held the final close its fourth fund on its $1.07bn hard cap in 2017, beating its initial target of $850m.

In the summer the Washington DC-based private equity house revealed its exit of Conexão Group and buyout of Formación Alcalá on the same day.

Earlier this month ACON agreed to sell the industrial segment of specialist print consumables business International Imaging Materials to trade buyer Armor USA.

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