Atlantic Sustainable Catch has acquired the downstream division of Atlantic Capes Fisheries to consolidate its position as a leading scallop producer, enhancing market footprint and operational efficiencies.

Target Information

The target of this acquisition is the downstream division of Atlantic Capes Fisheries, a significant player in the domestic and imported scallop market. Atlantic Sustainable Catch (ASC) has acquired this division to enhance their production capabilities and establish a larger presence within the scallop industry. The combined operations will allow Northern Wind, which ASC controls, to produce an estimated annual total of 20-22 million pounds (9,070-10,000 metric tons) of scallops, comprising approximately equal parts of domestically sourced and imported scallops.

Industry Overview

The scallop industry in the United States, particularly in Massachusetts, is robust and competitive, with major players including Eastern Fisheries and Seatrade International. NOAA landings data indicates that domestic scallop harvests were approximately 16 million pounds, with imports expected to total around 26 million pounds in 2024. The strategic consolidation of scallop producers like ASC and Atlantic Capes is reflective of broader trends in the industry, where competition for resources is intensifying.

Additionally, new regulations are anticipated to impact harvesting quotas. A recent recommendation from the New England Fishery Management Council has proposed a reduction of scallop landings to 19.75 million pounds for th