Monrovia-based Cacique, which has been making Mexican-style cheeses, cremas and chorizos in the Southland since 1973, announced Wednesday that a Boston-based investment manager is taking a minority stake in the family-owned company.
The equity investment by The Baupost Group, LLC “is part of a round of funding that will be used to accelerate the brand’s continued rapid growth nationwide,” according to a company statement.
The investment — the amount was not disclosed — “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,” according to the statement.
“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. “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 said, “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.”