Whole Foods has invested in Luke’s Lobster, which is a family-owned seafood venture in the US. The grocery store, which Amazon owns, has participated in a term labeled as minority growth equity financing headed by a US-based private-equity firm, Relentless Consumer Partners. The conditions of the investment were not revealed.
Luke Lobster has stated that it shall utilize the capital to expand its consumer-facing product and enhance its distribution.
Luke’s Lobster will also use the money to support the expansion of its restaurants in the US.
Under the deal, Luke’s Lobster’s current management staff will continue running daily operations, supported by Whole Foods and Relentless Consumer Partners.
“This investment capital, made up of such high-value-adding investors, will not only present a lot of financial help but also experience in dealer-facing qualities to enable us to expand on our restaurants, branded consumer packaged food, and wholesale fish enterprises as more growth business lines.”
– Luke Holden, Founder and CEO of Luke’s Lobster.
Luke Holden and Ben Conniff launched Luke’s Lobster in October 2009, opening a 250-square-foot restaurant in the East Village section of New York City.
In 2018, the company based in Saco, Maine, acquired a B Corporation certification.
Relentless Consumer Partners hails Luke’s Lobster as a leader in responsibly sourced seafood with huge untapped growth potential.
“Luke ticks all the boxes: product quality, mission, or enthusiastic customer audience.”
– John Burns, Relentless Consumer Partners CEO.
“Luke Lobster is a Whole Foods supplier who has been a supplier of the company for a long time. We look to the future of Luke Lobster and the ongoing of our twenty-year relationship with the brand which our stores and customers love.”
– Jennifer Coccaro, vice president of meat and seafood in the retailer.
Third-generation lobsterman Luke Holden founded Luke’s Lobster, a family-owned Maine seafood business. Luke’s began as a tiny lobster roll shack in New York City, where Holden was unable to find an authentic, high-quality Maine lobster roll to feed his craving for home in 2009. He, partner Ben Conniff, and their enterprising team launched and built their first ten shacks, sourcing the world’s best lobster from fishermen through Luke’s father, Jeff’s seafood production business. In 2013, the Luke’s team opened its own seafood purchasing and production business in Saco, Maine. This made Luke’s truly vertically integrated, buying directly from fishermen they know and trust and handling their seafood throughout the dock-to-plate journey.