Acon Investments successfully acquired the downstream division of Atlantic Capes Fisheries, creating a significant North American shellfish group.

Target Information

Acon has successfully completed its acquisition of the downstream division of Atlantic Capes Fisheries, a leading player in the US scallop market. This strategic move was facilitated through Acon's subsidiary, Atlantic Sustainable Catch (ASC), which already has a strong presence in the seafood industry by acquiring Northern Wind, another prominent US scallop processor, in October 2021. The acquisition was finalized on December 23, marking the establishment of a North American shellfish group with an impressive turnover exceeding $500 million.

The assets acquired by ASC include Atlantic Capes’ land-based clam, scallop, and value-added seafood production facilities, while the Cohen family retains ownership of its extensive fishing fleet. Notably, Atlantic Capes operates a scallop marketing and processing company located in Fall River, New Jersey, as well as the Galilean Seafoods hand-shucking plant in Bristol, Rhode Island, further cementing its position in the seafood supply chain.

Industry Overview

The seafood industry in the United States has been experiencing significant growth, particularly in the scallop and shellfish market. With increasing consumer demand for sustainably sourced seafood, companies are adapting their busine