New York-based AUA Private Equity Partners, which focuses on investments in family-owned businesses that are capitalizing upon the growth in the U.S. Hispanic population, announced it has acquired Illinois-based Raymundos Food Group for an undisclosed amount.

 

AUA Private Equity currently is managing over $250 million of capital, and typically invests between $15 and $50 million in companies that demonstrate earnings before interest, taxes, depreciation and amortization (EBITDA) exceeding $3 million.

 

“Our investment in Raymundos fits squarely within AUA Equity’s investment strategy,” said Steven Flyer, Partner of AUA Equity  – “…a Hispanic-oriented and family-owned business with the potential for broad cross-over appeal and rapid growth. We are excited to expand Raymundos’ distribution and build a leading refrigerated foods company in the U.S.”

 

Based in Bedford Park, Illinois, Raymundos produces refrigerated snacks and desserts, and develops manufactures, markets, and distributes gelatins, flans, puddings, and other ready-to-eat dessert items to a network of over 15,000 retail outlets including some of the largest merchandizers, distributors, and grocers across the U.S.

 

Raymundos will be headed by its newly named chief executive officer, Ricardo Alvarez, who has had a long-standing presence in the food sector leading companies including Spartan Foods, Overhill Farms, Busch’s Fresh Food Market, and Ruiz Foods.

 

“I am thrilled with the opportunity to partner with AUA Equity to help build Raymundos, said Alvarez. The Company has all of the ingredients for success in establishing itself as a leader in the mainstream refrigerated segment.” 

 

Under the terms of the financing, AUA Equity operating executive, Bob Levi will also assume a seat on the Raymundos board. Levi has previously served in the jello division of Kraft Foods and as president of Kraft’s Wal-Mart division.