Wind Point Partners invests in Tropicale Foods
Wind Point Partners, a Chicago-based private equity firm, has partnered with Tropicale Foods, a California-based manufacturer of frozen novelty products under the Helados Mexico brand.
Wind Point Partners, a Chicago-based private equity firm, has partnered with Tropicale Foods, a California-based manufacturer of frozen novelty products under the Helados Mexico brand. The company produces an assortment of traditional Hispanic offerings, including paletas, bolis, and mangonada cups, which are sold in a variety of flavors and pack sizes. Tropicale’s products are sold throughout the United States in multi-outlet retailers, convenience stores, and traditional grocery outlets.
After the transaction is complete, Tropicale’s founders will remain involved in the operation as they seek to continue to grow the Helados Mexico brand in close partnership with the Wind Point team. José Luis Prado has joined the Tropicale leadership team and will serve as board chair. He most recently served as CEO of Evans Food Group, a manufacturer of branded and private label pork rind snacks that Wind Point sold in August 2019. Prior to that, Luis Prado spent 30 years at PepsiCo with general management responsibility in the United States and Latin America.
“Tropicale represents a great fit for Wind Point. The founders have built a terrific business with great momentum and we look forward to their continued support in growing Tropicale in this next phase,” said Joe Lawler, principal at Wind Point. “We are also excited to partner with José Luis and the entire Tropicale team. We have a strong value creation plan that includes delivering on commitments to our customers, continuing to support growth, and exploring avenues to enhance the company’s portfolio of products.”
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