- Founded in 1982 by Rafael Mendez, Tropical Cheese is a family-run brand for an assortment of Hispanic cheese, meat and other food products
- Based in New York and Miami, Avance targets the services, technology and consumer areas in the US
- AUA Private Equity Partners invests in the lower middle-market
AUA Private Equity Partners and Avance Investment Management have made a significant investment in Tropical Cheese Industries, a US-based Hispanic food company. No financial terms were disclosed.
The founding Mendez family and the management team of Tropical Cheese will retain a significant minority interest in the company.
Founded in 1982 by Rafael Mendez, Tropical Cheese is a family-run brand for an assortment of Hispanic cheese, meat and other food products.
On the deal, Andy Unanue, managing partner of AUA, said in a statement, “The Mendez family founded Tropical Cheese over 42 years ago, and we are honored to be trusted to build on their legacy. The company has a proven track record of sustainable growth by increasing same store sales and the number of doors it serves, and we look forward to helping the company expand its footprint and continue to execute on its success.”
Based in New York and Miami, Avance targets the services, technology and consumer areas in the US.
AUA Private Equity Partners invests in the lower middle-market. The firm targets the consumer products and services sectors with a particular focus on family-owned businesses or companies.
