International sales earn lobster exporter business growth award
Maine Coast, a live *lobster wholesale company based in York, Maine, has been named one of the state’s fastest-growing companies by business journal MaineBiz.
The company has recorded double-digit growth since 2011, with sales of USD 15 million (EUR 14.1 million) in 2012, USD 24.6 million (EUR 23.1 million) in 2013, USD 40 million (EUR 37.6 million) in 2014 and USD 42.2 million (EUR 39.7 million) in 2015. Tom Adams, the company’s owner, expects sales in excess of USD 50 million in 2016, according to MaineBiz. The company has grown from employing 20 full-time workers in 2013 to 40 in 2016.
Adams has achieved success by focusing on international sales, particularly
The MaineBiz award is the latest in a string of accolades for Maine Coast. In 2015, it was named “exporter of the year” for Maine by the U.S. Small Business Administration and Mainebiz selected Adams as one of 10 “outstanding forward-thinking business leaders” as part of its 2016 Next List.
Adams said maximizing the Maine brand has been a key to the company’s success.
“We sell Maine,” he told MaineBiz. “I named my company ‘Maine Coast’ for a reason. If we can get people to come to us here in Maine, it’s a slam dunk. We’ve got them as a customer. If they can’t come to us, we bring ‘Maine’ to them through our website and videos.”
Adams has made strategic investments designed to sustain continuing growth, including opening a live lobster facility on the Boston Fish Pier in July 2016. The new facility allows Maine Coast to respond quickly to last-minute orders for southern New England and other domestic markets.
With demand still rising internationally for live lobster, especially in China, Adams said he doesn’t foresee any slowing of growth in coming years.
“China alone has to import 50 percent of its food just to feed its population,” he said. “The opportunities are endless.”
*Lobster is the species being highlighted during Day 4 of SeafoodSource’s “12 Days of Seafood” campaign. Find below more relevant news and resources regarding lobster:
Maine braces for potential closing of four areas to lobster fishing
Vegan spends hundreds to rescue King Louie, a giant 23-pound lobster
Infographic: Lobsters vs. Langostinos
Enhanced lobster, cod flavors spice up new product range from Essentia
Red Lobster rolls out new limited-time holiday menu
Thai Union posts record sales following Chez Nous acquisition, Red Lobster investment
Summer was hot time for Maine lobster marketing initiative
Canadian fishers fined for lobster, turbot, cod violations
Catchall: Everything you need to know about today's lobster market