October 8, 2014
DiMillo's buys New Meadows Lobster Co.
The family-owned DiMillo’s On the Water restaurant in Portland has purchased its neighbor, New Meadows Lobster Co. — a move that could help expand the lobster processing business.
The Portland Press Herald reported that DiMillo’s purchased New Meadows along with its two buildings and 26,800-square-foot pier for $1.6 million. The owners of New Meadows will stay involved while the business changes its name to New Meadows Lobster Supply LLC.
Chris DiMillo, managing principal of the the new partnership, told the newspaper that the acquisition will allow New Meadows to expand its retail, consumer and wholesale business, as well as create new opportunities for DiMillo’s dockage and parking business.
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