Valante Capital, the private equity arm of IDC Network, has acquired an equity stake in American Foods, a distributor of U.S. consumer goods to Latin America. Valante made the investment through its second fund, Ascend Fund II LP.
American Foods specializes in deli products, meats, cheese, bread and baked goods, and food service items sold to retailers, restaurants, and hotels. Its clients include major names such as Walmart International and PriceSmart, one of the largest operators of membership warehouse clubs in Central America, the Caribbean, and parts of South America, including Colombia and Costa Rica. The company distributes products to over 25 countries and features recognized brands such as Smithfield, Gwaltney, Armour, Eckrich, Butterball, Perdue, Tyson, and Nathan’s.
Beyond distribution, American Foods provides services such as product registration, repackaging, USDA cheese and meat inspections, private labeling, relabeling, co-packing, compliance with local requirements, and category management.
Led by CEO Frank Stanzione, American Foods operates from two facilities. The first is in Doral, Florida, near Miami—a city increasingly known as a hub for Latin American exports and shipping consolidations. The second facility is located in Costa del Este, near Panama City, Panama.
American Foods will operate in alliance with another Valante Capital portfolio company, Vitali Alimentos, a Guatemala-based producer and marketer of meat products and animal feed for consumers and farmers in Central America. Vitali Alimentos, which employs approximately 6,000 people, has operations in Guatemala, El Salvador, and Costa Rica. This collaboration aims to expand American Foods’ brand portfolio across Central America and the Caribbean. Valante Capital’s investment in Vitali Alimentos was made through its first Ascend Fund, which closed in 2019.
“It is an honor to have signed this strategic alliance with a dedicated team committed to offering competitive prices in the market and to expanding our brands into areas where we are not yet present,” said Mr. Stanzione, CEO of American Foods. “IDC, Valante, and Vitali Alimentos represent, in our view, the future of the region.”
“We are truly honored to team up with Frank and the outstanding team at American Foods in Miami and Panama to continue building this wonderful project together,” said Héctor Valero, the managing partner of Valante Capital and the board chairman at Vitali Alimentos. “We share the same values, aspirations, and vision—that significant goals can be achieved through passion, creativity, and resilience. The commercial alliance between American Foods and Vitali Alimentos aims to strengthen synergies in the territories where Vitali already operates.”
Valante Capital operates as the private equity division of IDC Network, a multi-platform asset manager with $2.2 billion in assets under management. The firm specializes in acquiring and transforming companies in the consumer goods and retail industries across Latin America.
© 2024 Private Equity Professional | December 3, 2024
