Palladium Equity Partners, LLC, New York, announced that one of its affiliated private equity funds made a significant investment in Quirch Foods Co., a Miami-based distributor and exporter of protein and Hispanic food products.
Palladium will partner with Quirch Foods with the goal of expanding the company’s market reach via a series of growth initiatives, including expansion into new product offerings and geographies and potential acquisitions in the food distribution industry.
Quirch Foods utilizes multiple distribution centers nationwide to distribute beef, pork, poultry seafood and other retail products to independent and ethnic grocers in the United States and Puerto Rico, U.S. national retailers and Latin American export markets. Quirch’s extensive portfolio of owned and licensed brands includes Panamei Seafood, Mambo and Chiquita Frozen.
“Quirch represents a unique opportunity for Palladium to leverage its experience investing in the U.S. Hispanic market, founder-owned businesses and fragmented industries,” says Luis Zaldivar, senior managing director of Palladium. “We are excited to partner with Quirch’s management team along with the Quirch family to help support the company’s next phase of growth.”
“The partnership with Palladium will allow Quirch to better serve our customers and accelerate our growth, while upholding the legacy and core values instilled by the Quirch family that have made Quirch a success since its founding,” adds Frank Grande, president of Quirch Foods.
“We are excited to partner with Palladium, which shares our vision of maintaining the company’s legacy as a strong business with proud heritage and identity. We believe this partnership with Palladium will be beneficial in the company’s next chapter,” says Mauricio Quirch, managing director of Quirch Foods.