Quirch Foods, a US-based manufacturer and distributor of Hispanic products, has attracted a “significant” cash injection from US private investor Palladium Equity Partners.
Palladium’s undisclosed investment, made through one of its affiliated funds, was conducted in partnership with the owners and management of Quirch, according to a statement today (21 December) from the private-equity firm.
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Founded in 1967 by the Quirch family, the company supplies beef, pork, poultry, seafood and other products to both independent and national retailers in the US and Puerto Rico, and ethnic grocers. It also exports to Latin American markets.
The private-equity investor said it will seek to expand Quirch’s geographical reach and product offerings, while pursuing potential acquisitions in the food distribution industry.
Luis Zaldivar, a senior managing director of Palladium, said: “Quirch represents a unique opportunity for Palladium to leverage its experience investing in the U.S. Hispanic market, founder-owned businesses, and fragmented industries. We are excited to partner with Quirch’s management team along with the Quirch family to help support the company’s next phase of growth.”
Quirch’s food portfolio includes its own and licensed brands such as Panamei Seafood, Mambo and Chiquita Frozen. The deal by Palladium extends the private investor’s presence in the US food space after it took Spice World under its arm in July.
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By GlobalDataOther holdings include snack makers Kar’s Nuts, Sahale Snacks and Wise Foods, along with Hispanic firm Del Real Foods and dairy business Castro Cheese.
