Devon, England-based seafood company Rockfish recently completed a GBP 3 million (USD 3.8 million, EUR 3.5 million) equity fundraising round aimed at kickstarting a three-year growth plan.
According to Rockfish CEO Mitch Tonks, the money will be used to expand its retail offerings and add three new restaurants to its existing operations.
The group’s current portfolio already includes eight restaurants, two takeaway shops, a hybrid online and in-person fishmonger concept, a fish-processing business, a delivery service, and a tinned seafood range, all of which have collaborative synergies among one another’s operations.
Tonks said his company had long been planning further expansion but had found recovery from the lingering effects of Covid-19 challenging to overcome. Now, though, those effects have largely subsided, leaving the company in a good spot to branch out.
“We are now going full steam ahead and are working hard to open the sites we have already acquired and obtained. This will happen over the next few months and into early 2025,” he told SeafoodSource.
Rockfish recently launched a hybrid online/in-store fishmonger concept at a motorway rest stop in the U.K. town of Westmorland. Tonks said it has provided helpful lessons on how best to consider consumer preferences when pursuing new business opportunities.
The brick-and-mortar shop at the rest stop sells frozen and tinned fish but also allows customers to access a digital fish counter linked to the Rockfish online seafood market. Shoppers can scroll through an interactive screen highlighting what is available for direct delivery, with new species added throughout the day as they become available.
“We have learned an awful lot in a short time, but the important thing is that people have really taken to the concept of ordering affordable fresh fish … and having it delivered straight to their door. There is no hassle nor waste for them, and the undertaking has helped to drive our online sales up by 150 percent already this year,” he said. “Taking lessons from Westmoreland, we have [learned that] people like simple processes, so we have worked hard to provide one.”
Tonks is now seeking to open new restaurants and develop a network of virtual fishmongers and is in the process of building a directory of distributors willing to place in-store screens featuring Rockfish’s offerings in their stores. Rockfish is also set to launch a third line of tinned fish, with the new range including sardines, mackerel, cuttlefish, crab, and Bury Inlet cockles.
“We are hoping to have a canning solution in the U.K., and discussions are ongoing; we are really excited about this possibility,” he said.
A throughline for all of Rockfish’s expansion plans is a sustainable agenda and encouraging people to eat more British fish. Tonks said this ethos will further establish Rockfish as a leader in the provision of quality fish and shellfish throughout the U.K.
