US-based Badia Spices has announced the sale of a stake in its business to a consortium of investors. According to a report from Reuters, the Florida-headquartered food group has transferred a majority stake to Bia Foods, a Panama-based investor and portfolio builder, along with the US banking and investment firm BDT & MSD Partners.
In a brief statement confirming the investment, Bia Foods did not specify the percentage of the stake sold or confirm if the investors now have a majority share in the company. The statement read: “Bia Foods and funds affiliated with BDT & MSD Partners have agreed to enter into a strategic partnership with the Badía family to support the continued growth and success of Badia Spices. The agreement is subject to customary closing conditions.” BDT & MSD Partners refrained from making additional comments beyond Bia Foods’ announcement. Financial specifics regarding the deal remain undisclosed.
This stake sale likely reinforces earlier reports from Reuters indicating that Badia Spices was considering putting the business up for sale, with estimates valuing it at up to $1.2 billion. The news agency cited reliable sources close to the situation at that time.
Founded in Miami in 1967 by José Badía, the company has evolved under the leadership of his son Pepé, who has been instrumental in its recent growth. Bia Foods confirms that Pepé Badía will continue as a shareholder and assume the role of honorary chairman.
Badia Spices is renowned for its diverse spices but also offers a wide range of products, including canned vegetables, oils, hot sauces, side dishes, and tea. Bia Foods, established by food and beverage conglomerate Grupo Mariposa in 2017, aims to acquire and expand food businesses in the US, Mexico, and Latin America and has successfully completed multiple acquisitions in this sector.
BDT & MSD Partners was formed last year when the tech entrepreneur Michael Dell’s family office joined forces with a merchant bank led by Byron Trott, known for his ties to renowned investor Warren Buffett and his previous work at Goldman Sachs.
In June, Reuters noted that Badia Foods generated approximately $100 million in gross earnings over the past 12 months. Badia’s products reach customers through retail, foodservice, and wholesale channels across more than 70 countries worldwide, with manufacturing and distribution operations based in Doral, south Florida.
