AUA Adds Desi to Raymundos Food Group
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AUA Adds Desi to Raymundos Food Group

Raymundos Food Group, a portfolio company of AUA Private Equity Partners, has acquired the assets of Desi Natural Dahi from Derle Farms, Inc., a family-owned milk and yogurt distributor.

Desi Natural is a developer and marketer of branded Indian yogurts (dahi) and cheese (paneer) which is predominantly sold through ethnic food retailers. According to AUA Private Equity, Desi has established itself as the #1 Indian dahi brand in the US with the widest brand awareness, highest net promoter score, and widest distribution among any dahi brand in the US. Desi Natural is based on Long Island in Bethpage, NY (www.desidahinatural.com).

AUA acquired Raymundos Food Group, a manufacturer and marketer of refrigerated snacks and desserts, in February 2016. Raymundos’ portfolio of gelatins, flans, puddings and other ready-to-eat products are distributed through mass retailers, conventional grocery retailers, as well as through independent and local Hispanic retailers.  According to the company, its flan products (an open pastry or sponge cake containing a sweet or savory filling) have the highest market share of any flan product in the US. Raymundos was founded in 1997 and is headquartered in the Chicago suburb of Bedford Park, IL (www.raymundos.com).

In March 2016, Raymundos acquired Noga Dairies, a certified organic developer, maker and marketer of drinkable yogurts, dahi, Greek and Swiss style yogurts, refrigerated dips and other specialty and ethnic dairy products. Noga Dairies is based on Long Island in Farmingdale, NY (www.nogadairy.com).

The acquisition of Desi positions Raymundos as the owner of both the leading brand of dahi Indian yogurt as well as the leading brand of flan in the US. “The Desi acquisition is strategic for Raymundos, as our company now owns two leading ethnic-oriented refrigerated brands targeting two of the fastest growing populations in the US (Hispanic and Indian),” said AUA Partner Steven Flyer. “The transaction also helps advance the Raymundos platform further into the better-for-you category.”

“We are extremely pleased to have completed the acquisition of Desi, allowing Raymundos to expand its product offering, develop additional customer channels, and achieve economies of scale that will deliver alpha to our partners,” said Andy Unanue, AUA Private Equity’s Managing Partner.

AUA Private Equity makes equity investments in companies in the consumer, media and business services sectors with a particular focus on family-owned businesses and companies benefiting from the growth of the US Hispanic population. The firm invests from $15 million to $75 million of equity in companies that generate at least $5 million of EBITDA. AUA is based in New York (www.auaequity.com).

The acquisition of Desi Natural was led by Partner Steven Flyer, Principal Kyce Chihi, and Senior Associate Ari David.

© 2018 Private Equity Professional | September 26, 2018

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