Corporación Multi Inversiones (CMI), a family-owned multilatina corporation with a 104-year legacy, more than 50,000 team members, and operations in 16 countries across Latin America and the United States, has entered into a definitive agreement to acquire a significant equity stake in Del Real Foods (Del Real), a leading Hispanic refrigerated foods company, from middle market private equity firm, Palladium Equity Partners, LLC.
Under terms of the agreement, the founders of Del Real Foods, - the Cardenas family -, and Palladium, will each own a minority equity stake in Del Real alongside CMI. Palladium acquired a major stake in Del Real from the Cardenas family in 2016.
"As a family-owned business that started with the dream of 'Don Juanito'—my grandfather—in a small town in Guatemala 104 years ago, we take immense pride in continuing our legacy of growth and success, enriched with thousands of great stories to tell,” said Juan José Gutiérrez, chairman of CMI Foods. “After 22 years in the U.S. with Pollo Campero, this investment in Del Real Foods, along with our new partners, the Cardenas family and Palladium, significantly expands our footprint in this geography, giving CMI a unique position to continue its growth plan in the U.S. market. We remain deeply committed to investing in all the countries and communities that have supported our journey and seen us grow, while paving the way for future success over the next century, making our purpose true: 'With family warmth, we create opportunities that change lives.'”
Del Real Foods, with manufacturing plants in Mira Loma, California, and Moore, Oklahoma, is a leading refrigerated Hispanic food brand and pioneer of authentic, Hispanic meal solutions, handhelds and snacks, and sides that deliver on taste, quality, and convenience. The company distributes its products to club, retail, foodservice, and wholesale channels across the U.S. With this strategic investment, CMI solidifies its position in the U.S. market, further diversifying its portfolio while reinforcing its operations and commitment to delivering high-quality products that resonate with consumers.
"We are thrilled about the journey ahead with Del Real Foods, a company that shares our commitment to delivering high quality products that resonate with consumers and uphold the values of our culture. We are grateful to the Cardenas family and Palladium for their invaluable support in enabling this growth,” said José Gregorio Baquero, CEO of CMI Foods. “This partnership will strengthen our U.S. presence and unlock new opportunities for expansion. The 'secret sauce' behind CMI's success is that we are a family-owned business, which gives us a long-term vision focused on the well-being of our people and building lasting relationships with our partners and consumers."
For CMI, this investment represents a significant milestone, making the U.S. the second-largest business footprint, alongside the aggressive expansion of its Pollo Campero restaurant chain. As CMI, Del Real Foods, and Palladium come together to shape a common future, they are committed to preserving their rich culinary heritages while innovating to meet the evolving tastes of modern consumers. This partnership will enhance the overall consumer experience, offering a wider array of high-quality, slow-cooked meats as well as homemade sauces, sides and snacks, while also expanding their market presence.
About CMI
Corporación Multi Inversiones (CMI) is a multilatina family-owned corporation with over 100 years of history, generating economic, social, and environmental value in the region. With more than 50,000 employees and a presence in over 16 countries, (including many in Latin America and the United States), CMI operates through its business groups: CMI Foods and CMI Capital. The company creates a sustainable impact in the communities where it operates by delivering excellence and high-quality products and services, positioning itself as one of the main business groups in Latin America. At CMI, with family warmth, we create opportunities that change lives.
