LOS ANGELES, Jan. 27, 2021 /PRNewswire/ -- Today, Cacique®, LLC – a leading independently owned Hispanic foods company and maker of the #1 brand of authentic Mexican-style cheeses, cremas, and chorizos in the U.S. – announced an addition to the company's ownership group as part of a round of funding that will be used to accelerate the brand's continued rapid growth nationwide. Boston-based investment manager The Baupost Group, LLC ("Baupost") will take a minority stake in Cacique.
Demand for Hispanic foods is exploding nationwide, and consumers are seeking authentic ingredients and high-quality products in this category. This investment is an important next step for the future of Cacique, and will support the company's long-term growth strategy, as well as allow the company to meet the growing demand for its products. Using the proceeds, Cacique will expand production capacity, increase R&D to drive product innovation and continue to sustainably enhance its national presence.
"For more than 45 years, we have been honored to be invited to the tables of our consumers," said Gil de Cardenas, CEO of Cacique, LLC. "This investment by Baupost will fuel the next chapter of our growth, affording us the opportunity to bring our portfolio of authentic, high-quality Hispanic foods rich in heritage and tradition to even more tables across the country. We are very excited to have Baupost as our partner."
Tom Blumenthal of Baupost added, "The de Cardenas family has built an exceptional business committed to producing the highest-quality authentic products. We couldn't be more excited to be partnering with them and the Cacique management team to continue the company's leadership and growth across the Hispanic foods category."
About Cacique®, LLC Family-owned and founded in 1973 on the principles of Family, Quality, Integrity and Authenticity, Cacique® is now one of the country's top Hispanic food brands – the #1 producer of Hispanic cheeses, creams, yogurts, chorizos and salsas in the United States. Headquartered in Monrovia, California, Cacique® remains dedicated to producing authentic, fresh and high-quality Hispanic products. For more information about Cacique®'s line of products, please visit caciqueinc.com or call (800) 521-6987 or (626) 937-3505.
About The Baupost Group, LLC The Baupost Group is a Boston-based investment manager with a long-term, value-oriented approach. Since 1982, the firm has been thoughtfully stewarding and compounding capital on behalf of families, foundations and endowments, as well as employees who collectively are the firm's largest client. Today Baupost manages roughly $29 billion, of which approximately 30 percent is held in cash or cash equivalents, which allows the firm to invest at scale and execute quickly on new opportunities.
With a broad and flexible charter, and depth of experience across all asset classes and market environments, Baupost is strongly positioned to evaluate and pursue longer-duration opportunities, and to structure transactions flexibly to meet the requirements of counterparties. The firm's experience in private equity includes transactions with family or founder-owned businesses; crossover public/private investments; structured investments; recapitalization and expansion investments; and carve outs.
Advisors Bank of America acted as exclusive financial advisor to Cacique, and Sheppard, Mullin, Richter & Hampton LLP served as legal advisor to Cacique. Ropes & Gray served as legal advisor to Baupost.