Palladium Equity Partners, LLC,New York City, said it sold Castro Cheese Company, Inc., toDairy Farmers of America, Inc.("DFA"). Terms were not disclosed.
Officials said Castro Cheese, Houston, processes, markets and distributes La Vaquita queso fresco and other varieties of Hispanic cheeses and creams in Texas and other southwestern states.
"We are thrilled with the successful outcome of the Castro Cheese transaction," said Luis Zaldivar, Paladium's managing director. "Since the acquisition in August 2007, Castro Cheese has successfully targeted major retailers such as H.E.B., Wal-Mart, Fiesta Mart, Kroger and Costco, where they have launched several new Hispanic cheese products under the brand 'La Vaquita' and pursued geographic expansion beyond Texas. We are proud to have partnered with management on what has been an outstanding investment, and we are confident that DFA is well positioned to support the company's continued growth."
Alberto Bandera is Castro Cheese Company's chief operating executive.
"Palladium's distinctive focus on companies that serve the Hispanic market and strong track record in investing in food businesses made them an extremely valuable partner for us," he said. "Palladium has helped us grow and develop our family business into a professionally-managed enterprise, while preserving the spirit, heritage and focus on high quality products that make us successful."
Officials noted that Lincoln International, Chicago, served as financial advisor to both parties in connection with the sale.
DFA buys Castro Cheese
November 8, 2010