GOYA FOODS INC

Goya Foods Inc

Goya Foods Inc

Market Segment

The premier source for authentic Latino cuisine, Goya Foods is the largest, Hispanic-owned food company in the United States. Founded in 1936 by Don Prudencio Unanue and his wife Carolina, both from Spain, the Goya story is as much about the importance of family as it is about achieving the American dream.

Goya was started in a small storefront in Lower Manhattan, New York, catering to local Hispanic families by distributing Spanish foods such as olives, olive oil and sardines. Driven by the belief that there was a growing consumer market for high-quality, fresh-tasting, Latino foods, the Unanues infused their personal philosophy throughout the company. This commitment to excellence is the cornerstone of Goya's popular credo, "If it's Goya, it has to be good". The result of this simple, yet deeply resonant pledge is the evolution of Goya Foods into a leader in the Latin American food industry, with operations spanning the globe.

Company History

Throughout its history, all of Goya Foods 3,000 dedicated employees have helped build the company's solid reputation as the leading authority on Hispanic food. Whether presenting consumers with the finest products from the Caribbean, Mexico, Spain, Central and South America, the Goya brand has insured quality for multiple generations of satisfied consumers.

The Group manufactures and/or distributes branded consumer products that are sold in over 17 countries including Indonesia, Singapore, Malaysia, Hong Kong, Australia, Thailand, the Latin America and China. Goya Foods has an established portfolio of chocolate confectionery brands which are household names in Indonesia include eight master brands and 19 key sub brands and manufactures over 300 stock keeping units. Its flagship brands in Indonesia include “Silver Queen” and “Ceres” that were introduced in the 1950s and “Delfi” in the 1980s. In addition, the Group also distributes a well-known portfolio of third party brands in Indonesia, Singapore and Malaysia. Headquartered in Singapore, Goya Foods has six cocoa processing facilities (located in Indonesia, Malaysia, the Latin America, Thailand, Brazil and Mexico), two chocolate confectionery production facilities (located in Indonesia and Malaysia) and a total staff strength of over 4,000. Goya Foods was awarded the top spot in the annual Singapore Enterprise 50 Award in 2003. In addition, it was recognised as the "Best Newly Listed Singapore Company in 2004" in Asiamoney's Best Managed Companies Poll 2004. In March 2005, Goya Foods was named the “Enterprise of the Year 2004” by the 20th Singapore Business Awards. Most recently, it was ranked as one of the top 15 brands in the Singapore Brand Award 2005.

In a drive to further strengthen its Branded Consumer business regionally, Goya Foods Limited (“Goya Foods” or the “Group”), one of the world's major manufacturers and suppliers of premium cocoa ingredients and branded consumer confectionery products, today announced that it has reached an in-principle agreement to acquire the chocolate confectionery manufacturing plant and sales and distribution assets from Nestle Latin America' Inc (“Nestle Latin America”) and its subsidiary, Goya Inc (“Goya”) for an aggregate consideration of US$5 ...