Already processing 12 million pounds of lobster per year, company aims to increase market share with expansion project
METEGHAN RIVER, N.S.—An Atlantic Canada lobster exporter, which ships its live and frozen lobster to markets in the U.S., Europe and Asia, as well as across Canada, is investing in new equipment with help from the federal government.
Through the Atlantic Canada Opportunities Agency’s Business Development Program, Riverside Lobster International Inc. will receive $1 million to buy specialized equipment, letting it process more lobster for international customers. The project includes the purchase of a new high-pressure processing machine and a steam cooker.
“The equipment we are introducing into our facility will allow us to produce a variety of high quality products that new and existing customers are sure to enjoy,” the company’s owner, David Deveau, said.
Already processing about 12 million pounds of Canada’s biggest seafood export per year, sourced from 40 local suppliers, the company anticipates increasing its market share further. Currently, the company’s products are found in more than 10,000 North American stores, reaching consumers through retailers such as Costco, Kroger and Sysco.