Details of the transaction remain undisclosed.
The De La Torre family, founders of Juanita’s Foods in 1946 in Wilmington, will maintain a “significant” ownership interest and continue their involvement in the business, according to a statement announcing the deal.
Juanita’s Foods provides a variety of shelf-stable Mexican staples, including menudo, pozole, hominy, albondigas, and nacho cheese.
CEO Aaron De La Torre stated: “This partnership strengthens our commitment to expanding Juanita’s into new markets and categories.”
He further commented, “Apex Capital brings the expertise and resources needed to support our continued growth while preserving our dedication to our employees and customers. Together, we will drive long-term value and innovation.”
Apex Capital is part of Grupo Mariposa-Apex, a Latin American conglomerate with interests in food and beverages, operating across 16 countries.
Commenting on the investment, Apex Capital Managing Partner Pedro Palma noted that Juanita’s Foods “deeply resonates with Hispanic consumers in the US and aligns with our values.”
He added, “This investment is a strong fit with our strategy of nurturing heritage Hispanic brands with high growth potential, guided by a focus on operational excellence and sustainable value creation.”
Grupo Mariposa employs several investment vehicles to support emerging companies.
In October, another investment arm, Bia Foods, acquired a stake in US-based Badia Spices.
Bia Foods was established by Grupo Mariposa in 2017, aiming to invest in food businesses across the US, Mexico, and Latin America, and has successfully completed several acquisitions.
The Mexican and broader Hispanic food sector in the US has attracted significant corporate interest in recent quarters.
Notably, last October saw PepsiCo buy Mexican-American snacks maker Siete Foods for a fee of $1.2bn.
