Ontario, CA – Tropicale Foods, Inc. (“Tropicale” or the “Company”) has received an investment from Wind Point Partners (“Wind Point”). FocalPoint Partners, LLC (“FocalPoint”) served as exclusive financial advisor to Tropicale. Based in Ontario, California, Tropicale is a leading 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 nationwide at multi-outlet retailers, convenience stores, and traditional grocery outlets. Tropicale was established in 1999 when the Company’s founders began manufacturing traditional authentic paletas. Since those humble beginnings, they have grown Tropicale into the leading Hispanic frozen novelty brand in the U.S. with one of the highest SKU sales velocities in the frozen novelty category.
The Founders of Tropicale Foods stated, “We are excited to join Wind Point as our partner given their proven record of partnering with family-businesses to invest in growth. The Wind Point team also brings deep experience in the food industry, including a broad network of contacts which we believe will add considerable value to our company as we look to scale. We see a great future for Tropicale and look forward to the opportunities that lie ahead for all parties involved.” They added, “FocalPoint was instrumental in gathering all the key players and ultimately helping us in selecting the right partner for Tropicale. We are especially thankful for FocalPoint’s expertise and commitment as it was occasionally very challenging, but they helped us pull through every time.”
José Luis Prado, former CEO of Evans Food Group and Executive Advisor Partner to Wind Point, commented, “Tropicale is a terrific business with a leading Hispanic brand. I see significant opportunity to continue building the Helados Mexico brand through great tasting new products, innovation, and geographic expansion. Equally as important as the opportunity for growth will be a continued focus on the strong culture at Tropicale, and we look forward to the opportunities this new partnership will provide for our Company, our customers, and our hardworking and dedicated employees.”
Joe Lawler, Principal at Wind Point, commented, “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. 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.”
Regarding the transaction, Robert Woolway, FocalPoint Managing Director, said, “We are pleased to announce the closing of another successful transaction for our Food practice. The founders of Tropicale are a true American success story, having created an unrivaled company that continues to capitalize on the evolving tastes of today’s consumer, who is increasingly looking for better-for-you and ethnic options. We are thrilled to have represented the founders and helped drive an exceptional outcome. We look forward to the next chapter of Tropicale’s growth story.”
About Tropicale Foods
Tropicale Foods is a leading 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 in many different flavors and pack sizes. Products are sold nationwide at multi-outlet retailers, convenience stores, and traditional grocery outlets. For more information, please visit www.heladosmexico.com.
About Wind Point Partners
Wind Point Partners is a Chicago‐based private equity investment firm. Wind Point focuses on partnering with top caliber management teams to acquire well‐positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors. Wind Point is currently investing out of Wind Point Partners IX, a fund that was initiated in 2019. For more information, please visit www.windpointpartners.com.
About FocalPoint Partners
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings, and special situation transactions. With offices in Los Angeles, Chicago, New York, and Shanghai, the firm provides global advisory services to middle market clients and has a dedicated Food and Restaurants practice. For more information, please visit www.focalpointllc.com and follow us on LinkedIn and Twitter.
Please contact Robert Woolway, Managing Director, at 310-405-7080 or firstname.lastname@example.org, or Bryant Yu, Senior Vice President, at 310-405-7027 or email@example.com, with any questions about this transaction.