Wind Point Partners, Tropicale Food form partnership
Tropicale Foods manufactures frozen novelty products under the Helados Mexico brand.
Wind Point Partners, a Chicago-based private equity firm, announced plans to partner with Tropicale Foods, an Ontario, Calif.-based manufacturer of frozen novelty products under the Helados Mexico brand, sold at multi-outlet retailers, convenience stores and traditional grocery outlets nationwide.
Post-transaction, the founders will remain involved in the go-forward operation, as they seek to continue to grow the Helados Mexico brand in close partnership with the Wind Point team.
José Luis Prado joined the Tropical leadership team and will serve as board chair.
"Tropicale is a terrific business with a leading Hispanic brand,” says Prado. “I see significant opportunity to continue building the Helados Mexico brand through great tasting new products, innovation and geographic expansion. I look forward to drawing on my experience as CEO of Evans Food Group and my 30 years in consumer packaged goods to help Tropicale flourish in this next phase. Equally as important as the opportunity for growth will be a continued focus on the strong culture at Tropicale, and we look forward to the opportunities this new partnership will provide for our company, our customers and our hardworking and dedicated employees."
"Tropicale represents a great fit for Wind Point,” adds Joe Lawler, principal at Wind Point. “The founders have built a terrific business with great momentum, and we look forward to their continued support in growing Tropicale in this next phase. We are also excited to partner with José Luis and the entire Tropicale team. We have a strong value creation plan that includes delivering on commitments to our customers, continuing to support growth and exploring avenues to enhance the company's portfolio of products."