Whole Foods Invests in Lukes Lobster to Boost Seafood Business and Restaurant Expansion

Whole Foods Market, a US-based grocery chain owned by Amazon, has invested in Luke's Lobster, a family-owned seafood business in the US. The investment, led by US private-equity firm Relentless Consumer Partners, is part of a "minority growth equity financing" deal. The terms of the investment were not disclosed. Luke's Lobster plans to use the capital to expand its range of consumer-facing products and improve their distribution. The funds will also support the opening of more Luke's Lobster restaurants in the US. The existing management team will continue to oversee daily operations with support from Whole Foods and Relentless Consumer Partners. Luke Holden, founder and CEO of Luke's Lobster, said that the investment from such highly valued investors provides significant financial resources and customer-facing expertise to continue growth in their restaurants, branded consumer packaged goods, and wholesale seafood lines of business. Established in October 2009 by Luke Holden and Ben Conniff, Luke's Lobster began with a 250-square-foot location in New York City's East Village area. In 2018, the company earned B Corporation certification. Relentless Consumer Partners praised Luke's Lobster as a leader in responsibly sourced seafood with a substantial untapped opportunity for growth. John Burns, CEO at Relentless Consumer Partners, said that Luke's checks every box: exceptional product quality, unwavering mission, and a passionate customer base. Luke's Lobster has been a longstanding supplier for Whole Foods. Jennifer Coccaro, vice president for meat and seafood at the retailer, said that they look forward to what's next for Luke's Lobster and continuing their longstanding collaboration with a brand that is beloved by their stores and customers. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking or refraining from any action on the basis of the content on our site.