Tropical Cheese Industries Reportedly Exploring Sale Valued Over $500M
Source: DairyNews.today
Tropical Cheese Industries, a leading Hispanic dairy products manufacturer, is reportedly exploring a sale that could value the company at over $500 million, according to sources familiar with the matter.
The New Jersey-based company is working with investment bank Rothschild & Co to facilitate potential acquisition offers, though both Tropical Cheese and Rothschild have declined to comment on the matter due to its confidentiality.
The sources, who requested anonymity, indicated that Tropical Cheese expects to generate nearly $50 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2024.
Founded in 1982 by Cuban immigrant Rafael Mendez, Tropical Cheese has grown significantly from its early roots serving Latino and Hispanic communities in New Jersey. The company, based in Perth Amboy, now distributes a wide range of dairy products, including cheeses and creams, across most U.S. states and internationally to the Caribbean, Central and South America, and Europe.
In addition to its dairy products, Tropical Cheese also offers meats, tortillas, and beverages, with its products sold through convenience stores and food retailers in its operating regions.
This move by Tropical Cheese follows a broader trend of Hispanic-owned food companies exploring sales. In June, Badia Spices, another prominent Hispanic-owned food company, was also reported to be considering a sale.
The sources, who requested anonymity, indicated that Tropical Cheese expects to generate nearly $50 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2024.
Founded in 1982 by Cuban immigrant Rafael Mendez, Tropical Cheese has grown significantly from its early roots serving Latino and Hispanic communities in New Jersey. The company, based in Perth Amboy, now distributes a wide range of dairy products, including cheeses and creams, across most U.S. states and internationally to the Caribbean, Central and South America, and Europe.
In addition to its dairy products, Tropical Cheese also offers meats, tortillas, and beverages, with its products sold through convenience stores and food retailers in its operating regions.
This move by Tropical Cheese follows a broader trend of Hispanic-owned food companies exploring sales. In June, Badia Spices, another prominent Hispanic-owned food company, was also reported to be considering a sale.
