A US-based private equity fund has snapped up scallop giant Northern Wind, and plans on combining the group with two Canadian firms as a platform to build a new North American seafood processor and distributor.

ACON, which has more than $6 billion in raised capital under its management, acquired the Massachusetts-based scallop firm as part of an acquisition and merger with two other companies -- Canadian shellfish suppliers Suncoast Seafood Inc. and Raymond O’Neill & Son Fisheries Ltd. -- according to Antarctica Advisors, which advised Northern Wind on the deal.