March 27, 2017 — A lobstermen-only fishing organization has purchased a local lobster wholesale business, extending the reach of its members further down the distribution chain and giving them a greater share of the profit off their catch.
The Maine Lobstering Union, formed in 2013 in the wake of a sharp drop in prices paid to lobstermen by dealers, is buying Seal Point Lobster Co., a wholesale lobster distribution firm owned by the Pettegrow family. The Pettegrows also own the Trenton Bridge Lobster Pound restaurant, which is not part of the sale.
A representative for the group declined to disclose the sale price, but according to media reports the MLU is paying $4 million for the business.
Joel Pitcher, an organizer with the International Association of Machinists and Aerospace Workers, said the purchase of the wholesale business is in keeping with the mission of the lobstering group, which is to promote and protect the financial interests of lobstermen. Maine Lobstering Union Local 207 is a chartered chapter of IAM.
“It’s about putting lobstermen in a better position in the value stream on the shore side of the industry that they’ve never had access to,” Pitcher said recently.
The sale came about, Pitcher said, after Warren Pettegrow, who oversees the family businesses, started talked to MLU officials about ways that fishermen could secure a greater stake in the industry’s distribution chain. Attempts Thursday and Friday to contact Warren Pettegrow were unsuccessful.