Tropical Cheese Industries, LLC, a Hispanic cheese manufacturer based in Perth Amboy, New Jersey, recently secured an undisclosed investment from AUA Private Equity Partners, LLC, and Avance Investment Management. These two investment firms specialize in partnering with family- and founder-owned businesses, demonstrating their commitment to supporting companies with strong family legacies.
The Mendez family, who founded Tropical Cheese, along with the management team, will maintain a substantial minority interest in the company. This investment marks a significant milestone for Tropical Cheese, which has a rich history dating back to the 1970s when Rafael Mendez immigrated to the United States at the age of 17. Settling in New Jersey, Mendez started his journey by delivering milk to the Hispanic community and eventually established Tropical Cheese in 1982.
The infusion of capital from AUA and Avance will enable Tropical Cheese to enhance product penetration, expand distribution channels, and cultivate long-lasting customer relationships. Andy Unanue, managing partner of AUA Private Equity Partners, LLC, emphasized the importance of this investment in driving the company’s growth trajectory.
Rafael Mendez, the founder of Tropical Cheese, expressed his enthusiasm for the partnership with AUA and Avance, highlighting their extensive experience in investing in food companies, family businesses, and the Hispanic market. He emphasized the importance of preserving the company’s brand and family legacy while embarking on a new chapter of growth with the support of these seasoned investors.
Tropical Cheese offers a diverse range of Latino-focused products, including cheese, meats, seafood, creams, beverages, tortillas, arepas, desserts, and deli items in the United States. The company also serves markets in the Caribbean, Central and South America, and Europe, catering to a wide range of consumers with a taste for authentic Hispanic cuisine.
Luis Zaldivar, managing partner of Avance, underscored the synergies between the investment firms and Tropical Cheese, citing their shared cultural ties and expertise in Hispanic foods and family businesses. The strategic partnership is poised to capitalize on the growth potential within Tropical Cheese’s product categories, paving the way for national expansion and potential mergers and acquisitions opportunities.
Overall, the investment from AUA Private Equity Partners, LLC, and Avance Investment Management represents a strategic move for Tropical Cheese Industries, LLC, as it positions the company for accelerated growth and market expansion. By leveraging the expertise and resources of these reputable investment firms, Tropical Cheese is well-positioned to capitalize on emerging opportunities within the food industry and strengthen its position as a leading provider of Hispanic food products in the United States and beyond.