The Tribune

An Abaco-based stone crab harvester start-up is targeting $1 million in annual revenues, having invested $500,000 in its creation to-date.

Friendliest Catch, which was established in 2012 with the goal of acquiring stone crabs from local fishermen in North Abaco, has launched its business harvesting stone crabs for Bahamian consumption and international export. It has invested in both harvesting equipment and a packaging plant located on the island.

Faron Newbold, Friendliest Catch’s operating manager and partner, said: “As business evolved, we took on new objectives. We have expanded our purchasing, so we are now purchasing from fishermen throughout the Abacos and are also considering expanding to the Family Islands.”

Abaco has a high number of second home owners and non-Bahamian residents, and Friendliest Catch says the demand for stone crabs has often matched that for lobster and crawfish.

“Local tourists also complained about the scarcity of it, and this peaked our interest,” added Mr Newbold.

The company is Bahamian-owned and involves a US partner, who has worked in businesses including spices and mergers and Acquisitions.

Renardo Curry, parliamentary secretary in the Office of the Prime Minister, said: “I am in full support of the project. One of the things that you will find is that in Abaco, most particularly North Abaco, these communities thrive off of fishing resources and marine resources.

“I believe that this business has a very good chance of being successful moving forward, because stone crabs are very popular on the islands and there is a high demand on them internationally as well.”

While certain restrictions have been imposed by the Department of Fisheries. Friendliest Catch said stone crab was a regenerative product. Unlike conch or fish, the claws are removed and the crab grows new claws.

“Stone crab farming is a product that would also provide economic growth and satisfaction for generations to come. As a result, there is no risk of the product becoming extinct or endangered like some of the other seafood products,” said Mr Newbold.

“We have several fishermen who are current suppliers. We have purchased traps, boats, engines and distributed them to those fishermen who have expertise in harvesting stone crabs. They have been able to benefit extensively from this injection.

“Last season, one of the exclusive suppliers took home $40,000 for three months of work. The other suppliers were also able to pocket some money. The community needs the economic stimulation. Our hope is to get as many of these fishermen on board once they are willing to comply with our standards, the restrictions imposed by the Department of Fisheries, and they are willing to be upfront and honest with their business dealings with us.

“There is a great opportunity for as many fishermen that would like to sell to us. We are willing to meet, interview them, and bring them into the company. All of our employees are Bahamian, and as the business grows we expect to bring more people into the fold, more suppliers, and employees.”

Friendliest Catch’s official launch will be held on Saturday, July 6 at the Treasure Sands Club, a high-end restaurant and resort.

Chef Antonio Huyler will be preparing numerous stone crab dishes, and there will be a stone crab display for regular attendees and VIP guests. The event will give persons an opportunity to mix and mingle with potential customers and restaurant owners.

The MPs for North and South Abaco, Mr Curry and Edison Key, as well as other local officials, are expected to attend.