Antares Capital is serving as administrative agent and joint lead arranger on a USD121.6 million senior secured credit facility to support the acquisition of Del Real Foods by a private equity fund affiliated with Palladium Equity Partners.
Founded in 2002 and based in Mira Loma, California, Del Real offers authentic, clean label, traditionally prepared Mexican cuisine, including prepared meats, specialty items (tamales and pupusas), fire roasted salsas, and side dishes (rice and beans).
The company has developed long term customer relationships with market players across diversified sales channels, including club stores, ethnic grocery stores, traditional grocery stores and food service.
“The Antares team was constructive and creative throughout this transaction,” says Yue Bonnet, vice president with Palladium. “We value Antares as a financing provider due in part to their proven flexibility and ongoing support.”
“Del Real is a company well positioned for growth, both regionally and nationally, with its authentic, on trend products. We are excited to support Del Real and Palladium during their next phase of growth,” says Tim Brandt, vice president with Antares Capital. “We are pleased to lead this financing for Palladium and we welcome Del Real to our portfolio.”