Washington, DC-headquartered ACON Investments has formed a North American seafood enterprise with the simultaneous acquisitions and merger of Northern Wind, Suncoast Seafood and Raymond O’Neill & Son Fisheries Ltd. (ROSF). Terms of the private equity firm’s deal were not disclosed.
The combined operation is now conducting business as Atlantic Sustainable Catch (ASC), positioned as a premium, sustainable seafood processor and distributor.
ASC is a producer of both scallops and lobster, with close to 600 employees based across five locations in Massachusetts and New Brunswick, Canada. Its team has a long history of supporting local fishing communities and supplying quality seafood products to some of the largest retailers, restaurant groups and food distributors across North America. As part of the transaction, existing owners and management personnel of all three businesses will continue to provide leadership to the platform and will be shareholders and partners alongside ACON.
“The Northern Wind team is excited about the ability to continue the growth of our business, with the support of our new investment partners and an ideal strategic partnership with Suncoast and ROSF,” said Ken Melanson, executive chairman and interim chief executive officer of ASC.
“This is the catalyst for growth that our industry needs,” remarked Luc Doiron, longtime leader of Suncoast and president of ASC’s Canadian operations. “We see tremendous opportunity in our partnership with ACON and these two outstanding businesses to increase our production while continuing to provide the high quality products that our customers have come to expect from us.”
A press release from the O’Neill family, founders and owners of ROSF, stated: “We are thrilled to partner with a group that supports our family and believes in our leadership. This partnership brings together resources and expertise in a way that will enable us to continue to build our business and grow with our customers into the long term.”
About the Acquired Companies
Northern Wind is a leading producer of scallops and other premium seafood, serving some of North America’s largest retailers. Ken Melanson and Mike Fernandes founded the company in 1987 and continue to oversee the business’s operations today. It has 150 employees working at three sites in New Bedford, Massachusetts.
Suncoast is a lobster processor based in Grand-Digue, New Brunswick, Canada. It was founded in 2010 by Luc Doiron, who continues to operate the businesses. Employing 180 people, the company has built a strong reputation in the industry as a top-quality provider of lobster products to restaurants and distributors.
Raymond O’Neill & Son Fisheries is a lobster processor based in Escuminac, New Brunswick, Canada. Family-owned and operated since 1983, its management team is led by Wendy Schofield and Chris O’Neill, as well as their father Raymond. They have built strong relationships with a number of premier restaurant groups and lobster fishermen across New Brunswick and Nova Scotia. The ROSF workforce numbers approximately 200.
