Avance Investment Management and AUA Private Equity Partners have acquired Tropical Cheese Industries, a family-owned producer of Hispanic dairy and meat products.
Tropical Cheese's product portfolio includes cheeses, meats, tortillas, yogurt drinks, seafood, creams, and desserts.
The company primarily serves Hispanic households in the United States, the Caribbean, Central and South America, and Europe.
The founding Mendez family and the senior management team will have a minority stake in the business in partnership with Avance and AUA.