Diaz Foods, one of the largest distributors of Hispanic foods in the USA, has acquired La Cena Fine Foods, the American / Cuban distributor of branded Caribbean / Hispanic food.
Commenting on the acquisition, Diaz Foods’ president and CEO, Rene Diaz, said: “La Cena offers the perfect complement to brands we already carry. Introducing the La Cena family of brands and expanding the distribution area will allow us to continue to offer superior products and service to all of our customers”.
Alan Scharfstein, President of the DAK Group, which has has served as exclusive investment banker to La Cena, added: “This acquisition is an opportunity for a deeper penetration of La Cena’s products into the marketplace, and is a great fit with Diaz’s growth plans”.
Diaz, a private company with revenues of over $200 million, will introduce La Cena into its existing 24-state distribution network. Simultaneously, Diaz will introduce 5,000 product offerings throughout the northeast of the USA.
Source: DAK Group