Riding the waves of the seafood industry to business growth

Oct 01, 2014

Given its stockyards legacy, Chicago is known more for succulent steaks than seafood offerings. But, that hasn’t stopped Dominic Stramaglia from finding success in lobsters, crab cakes, shrimp and more for the last 40 years. Based in west suburban Villa Park, Stramaglia’s Supreme Lobster and Seafood Company is a leading regional and national distributor of wholesale seafood. Supermarkets, retail outlets, restaurants and food service operators throughout the country rely on Supreme Lobster for fresh, frozen fish every day.

Stramaglia has been a client of Bank of America for more than 30 years. His bankers have come to know the ins and outs of the seafood business – and his changing financial needs. “Products like lobster tails are seasonal, and during seasonality, we need extra capital,” Stramaglia explained. “The bank recognized the cycles. Over the years, they’ve gained a better understanding of my business, which makes it much easier for us to work together.” Stramaglia’s continued success in unchartered waters inspired the bank to finance the expansion of his business.

Five years ago, he purchased a cold storage facility in southwest suburban Bolingbrook, rather than continuing to pay costly rental fees. He saw the opportunity to expand to Joliet just two months later. After breaking ground on the new facility in 2013, Stramaglia is ready to serve more clients. He invited his Bank of America client manager, Megan Collins, to tour the state-of-the-art facility. “He doesn’t come to us, ask for a financing proposal, and then turn around and go get the best option down the street,” Collins said. “He trusts us.”


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Over the years, they’ve gained a better understanding of my business, which makes it much easier for us to work together.

Dominic Stramaglia
Stramaglia’s Supreme Lobster and Seafood Company