Bellevue Asset Management acquires Newport Lobster Company

Newport, Rhode Island, U.S.A.-based Bellevue Asset Management has acquired Newport Lobster Company, a seafood wholesaler based in Aquidneck Island, Rhode Island.

Newport Lobster Company was founded 23 years ago, and supplies Rhode Island and greater New England restaurants with fresh seafood, according to a release. The exact terms of the acquisition were not disclosed.

"Since we started over twenty years ago, we have focused on the needs of our customers," Newport Lobster Company Founder Kenny Haslam said in a press release. "We know that quick, responsive service and high-quality, fresh products are always in the best interest of our clients and their customers. Our focus on these facts has allowed us to help our New England communities thrive as destinations locals and tourists alike flock to when they want the real, local, and, most of all, fresh delicacies our oceans are known for.”

Bellevue, Haslam said, “shares the same vision” as Newport Lobster Company, and through the acquisition process impressed the company with its “care and attention for our community.”

“The team at Bellevue, like us, live here, send their children to school here, and most of all, eat here, so they know how essential the right ingredients and service are to our community and businesses,” Haslam said.

Nick Schorsch Jr. of Bellevue Asset Management said that the company has worked with Newport Lobster Company through some of the businesses it operates in Newport, Rhode Island, and the surrounding areas, and has “never been disappointed” with the company’s products or services.

“We focus on what we consider heritage industries, the core businesses that hold up our communities, and Newport Lobster Company is that to a tee,” Schorsch said. "We are the Ocean State for a reason, and what the Atlantic Ocean provides us is why so many choose to live, vacation, and, most of all, eat here year after year. Without the committed staff at Newport Lobster Company, led by Kenny, feeling personally invested in the success and well-being of their customers, vendors, and community, this business would not be where it is today.”

Schorsch added that Bellevue plans to invest in Newport Lobster Company to continue growing the business in the state.

Bellevue and its founders, the company said in a release, have total assets under management of over USD 10 billion (EUR 9.2 billion). Associated companies include Bellevue Capital Partners, the sole member of AR Global Investments, LLC, which itself is the parent company to the advisor and property manager of American Strategic Investment Company – a publicly traded company with a portfolio of commercial real estate.  

Photo courtesy of Midtown Oyster Bar/Facebook