Diaz Foods Adds La Cena
Diaz Foods has acquired La Cena Fine Foods Ltd. for an undisclosed amount, as M&A for ethnic food companies continues.
La Cena, headquartered in Saddle Brook, New Jersey, makes branded Caribbean food, drinks and condiments.
Atlanta-based Diaz markets specialty foods, including its own branded line of products. The company specializes in distributing products from Latin America, including Mexico, Argentina, Colombia, Guatemala, Costa Rica and other countries.
The acquisition allows Diaz to provide products to more customers, especially those in the Northeast U.S., where La Cena has distribution capabilities.
DAK Group advised La Cena on the deal.
Other recent specialty or ethnic food deals include Ajinomoto Co.'s $800 million purchase of Quality Holdings LP, which makes Ling Ling, Josè Olè and other branded frozen food products, in September, and Archer Daniels Midland Co.'s deal for Specialty Commodities for $191 million in December.
For more on food M&A, see 6 Notable Food Deals of 2014.