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Hispanic food company Badia Spices has agreed to sell a majority stake to a group of investors. It is reported that the stake values the company at around $1.2 billion.
Established in Florida, US, in 1967, Badia Spices sells spices, seasonings, sauces, teas and other products under Badia and other brands. Its products are available in more than 70 countries.
The investors reportedly buying the stake are a Latin-American conglomerate's investment arm Bia Foods and merchant bank BDT & MSD Partners.
According to Reuters, a Bia Foods spokesperson confirmed the deal. Bia Foods was established by Mexican F&B company Grupo Mariposa in 2017. The group launched the private investment arm to buy food businesses in the US, Mexico and Latin America.
Pepe Badia, president and majority owner of Badia Spices, will remain a shareholder and become honorary chairman.
BDT & MSD was established in 2023 when tech entrepreneur Michael Dell's family office and a merchant bank run by Byron Trott, combined.
FoodBev has approached Badia Spices for comment.
Top image: ©Badia Spices
