BELLEVUE ASSET MANAGEMENT ACQUIRES NEWPORT LOBSTER COMPANY

NEWPORT, R.I., Nov. 29, 2023 /PRNewswire/ -- Newport Lobster Company ("NPLC") and Bellevue Asset Management ("BAM") are excited to announce that on Tuesday, November 14, 2023, NPLC joined the BAM family of companies. NPLC has, for the past 23 years, been a local institution providing Aquidneck Island, RI and greater New England restaurants, markets, and communities with best-in-class, wholesale fresh seafood.

"Since we started over twenty years ago, we have focused on the needs of our customers," said Kenny Haslam, founder of Newport Lobster Company. "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 and Newport Lobster Company share the same vision. During this process, we have been impressed with Bellevue's care and attention for our community, the businesses we support, and the impact we can have on the organizations we service. 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."

"Over the last few years operating businesses in Newport and the surrounding areas, we have never been disappointed with the quality of product or service that Newport Lobster Company provides. 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," said Nick Schorsch Jr. of BAM. "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. As an organization, we feel the same, and that is why I am proud to work alongside the same team members who have for decades focused on providing our communities with the world-class seafood that puts our towns and cities on the map. BAM intends to invest time and capital to enable Newport Lobster Company to continue providing the same great products and service and, over time, to enhance our relationships with our customers and vendors so that they can continue to grow alongside us."

About Bellevue Asset Management, LLC

Bellevue is a leading, diversified investment, asset management, and operating platform. Bellevue and its founders have deep public and private market experience with total assets under management of over $10 billion.

To contact Bellevue Asset Management call (401) 367-4500.

To contact Newport Lobster call (401) 846-8872.

SOURCE Bellevue Capital Partners, LLC