Stuart, Florida, U.S.A.-based New England Fish & Lobster plans to expand to other areas of Florida after its acquisition by wholesale foodservice distributor Hillcrest Foods and Local & Turtle Foods earlier in 2022.
Hillcrest, which acquired Tampa, Florida-based seafood and meats distributor and processor Local & Turtle Foods a few years ago, and its four majority owners, bought New England Fish & Lobster in April 2022, New England President and CEO Chris Lick told SeafoodSource.
Cleveland, Ohio, U.S.A.-based Hillcrest has made several other non-seafood company acquisitions in recent years, including Cleveland-based Five Star Brand Meats.
The acquisition of New England – which boasts approximately USD 30 million (EUR 28.7 million) in annual sales – will increase the wholesaler’s buying power and allow it to expand throughout Florida, Lick said.
“We are directly across from Local & Turtle, and are working as a partnership … utilizing [its] buying power,” Lick said.
New England Fish & Lobster continues to operate independently of Hillcrest, Lick said.
“We are a very profitable company, so it wasn’t a takeover,” Lick said. “They don’t bring a team in here. We are assisting them with their growth, and they assist with our growth.”
New England’s current territory stretches across Florida from Melbourne to Miami, and the company is looking to expand into other areas of the state, according to Lick. He did not provide further details, as the company is in the “infancy stages” of planning its growth.
Hillcrest did not respond to a request from SeafoodSource for comment.
Photo courtesy of New England Fish & Lobster
