Luke’s Lobsters: Rolls From ‘Trap to Table’

The New York Times: “Oil companies have long practiced a vertical integration strategy to track and control the flow of petroleum from the oil field to the gas pump … Now the practice is gaining momentum in the food industry.” Among this new breed of restauranteurs is Luke Holden, co-owner of “19 Luke’s Lobster restaurants, two food trucks and a lobster tail cart in the United States, and five shacks in Japan.”

Luke “holds an ownership stake in a co-op of Maine fishermen, which allows him to track where and how the lobsters are caught, and control the quality, freshness and pricing. He also owns the processing plant, Cape Seafood, that packages and prepares the lobsters for his restaurants.” He comments: “We’re able to trace every pound of seafood we serve back to the harbor where it was sustainably caught and to support fishermen we know and trust.”

“When Mr. Holden agreed to buy all of the co-op’s catches for his restaurants, support its sustainability practices and give the co-op 50 percent of the profits from a Luke’s Lobster restaurant that is attached to the wharf, the fishermen agreed … Mr. Holden is projecting sales of $25 million this year and $42 million in 2018. Plans are in the works to open six new restaurants this year and 40 more by 2020.”

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