NEW BEDFORD — General Mills began promoting Wheaties cereal by putting athletes’ pictures on the boxes back in the 1930s.
WildFish LLC, better known as Red’s Best, is doing something similar today to promote its freshly landed seafood.
They provide background information, including pictures, of the fishermen involved in the catch that reached your dinner plate. It’s called: Meet some Fishermen.
CEO Jared Auerbach says the promotion helps people connect with the product.
“We’ve had success telling the stories of the fishermen, and sharing the stories of the fishermen we work with.”
He added, “That’s very impactful. These are compelling people in our society that the consumer cares about — I’m not the only person who thinks commercial fishermen are cool.”
Spending $2.8 million on acquisition, refit in New Bedford
They’ve been slowing down on that promotion of late, though, as they get settled into their new processing location in New Bedford at 11 Hassey St.
Red’s Best bought the fish plant for $2.5 million and is spending approximately $300,000 to refit it.
They had to move when the property they were leasing at 360 S. Front St., was sold to the Massachusetts Clean Energy Center to support the New Bedford Marine Commerce Terminal.
City officials OK tax deal in return for investment, jobs
The City Council and Tax Increment Financing Board approved a five-year tax agreement that will save Red’s Best a total of $83,154.24 to support its investment and create new jobs.
The move to 11 Hassey St. will allow Red’s Best to retain 39 current jobs and add 30 new permanent jobs over that five-year period, according to the TIF Board.
Derek Santos, New Bedford Economic Development Council executive director, said during a meeting with City Councilors, “We’re really glad that in a very tight waterfront that Jared’s company was able to find space. That can be a difficult thing to do. That’s a big investment to make. If we had another dozen waterfront sites for advanced processing, we would have them all filled.”
Company has grown from one-man operation
Red’s Best has continued to grow since it was founded by Auerbach in 2008. It was a one-man company back then — Auerbach — operating out of a single, refrigerated truck, according to the TIF Board.
Auerbach was a young fisherman from Boston who had worked on commercial vessels in Alaska and Cape Cod during the early 2000s, according to his bio.
Auerbach saw the dual impact of government regulation and industrial technology on the fishing industry.
“Red’s Best created a system to aggregate catches by networking small boats with proprietary technology to form a large market presence thereby leveling the global playing field,” according to the board.
Company software developed to facilitate process
The company’s software enabled it to input massive amounts of data, and track a daily catch from landing through processing, packaging, labeling and shipping, according to the board.
Auerbach said, “Every single pound of fish that gets landed has to be reported electronically to the federal government by species, by size, the pounds, the price. Everything. Boat name. It made it more inefficient for a dealer to buy off a small boat.”
He thought at the time, “Maybe we could create a foothold by using the technology that was becoming available. This was in early teens to 2008, 2009.”
It worked and allowed the start-up company to accumulate enough volume to start investing in infrastructure, he said.
Company now employs over 100 people
Red’s Best today has four different processing facilities and two retail locations in the state. The processing facilities process, pack and ship seafood nationwide for retail and wholesale.
The board states the company has grown to include 20 managerial positions and 85 non-managerial employees.
Auerbach stated in a May letter to the City Council that the company’s average wage was $18 per hour, which increases to $24.43 with overtime and piecework. Health insurance is also offered.
Auerbach said the two retail locations are located at Logan Airport’s Terminal B in Boston and the Boston Public Market on Hanover Street in Boston.
Core business is as an ‘aggregator’
But the core business is as an “aggregator,” working with the fishermen to get them the most value possible, he said.
“We’re gathering fish together, bringing it all together, aggregating it. Our core business is selling that fish to wholesalers around the country, who then have relationships with restaurants, and retailers in their city or in their region.”
With government regulation limiting what fishermen can land, which is the right thing to do to maintain sustainability, he said, it’s important to maximize their revenue.
Treat it well and it will taste good
Red’s Best sells every type of species that’s landed in Massachusetts, including less ballyhooed species that can get overlooked.
Auerbach said, “I’d say right now some of the species that are very abundant — where supply is greater than the demand — are monkfish, skate wing and flounder.”
But, he added, “What’s very abundant this year might be different next year. And it might be different the year after.”
One thing the different species have in common?
They all make tasty eating, he said.
“There are some nuances to the different species of fish, but anything you take out of the ocean, if you handle it well and treat it well, it tastes good.”
Looking forward to many more years in New Bedford
Auerbach said he looks forward to many more productive years working out of New Bedford.
“I love New Bedford, so I’m really happy to be a real estate owner down here now,” he said.
“We hope this is the first of many big investments in the city of New Bedford.”
