MIAMI–(BUSINESS WIRE)–#QuirchFoods—Quirch Foods, a leading distributor and exporter of protein and specialty food products across the United States, Puerto Rico, and Latin America, today announced the completion of a $1.1 billion strategic debt refinancing led by Ares U.S. Direct Lending funds and Regions Bank, with participation from a consortium of additional lenders.
The new financing structure strengthens the company’s balance sheet and positions Quirch Foods for its next phase of growth, which will be primarily focused on investments in its brands, talent, technology, and operational innovation. The transaction expands the company’s asset-based lending (“ABL”) facility and provides access to a delayed draw term loan, offering greater flexibility to pursue strategic initiatives, capture market opportunities, and fund future acquisitions.
“This refinancing provides Quirch with a strong foundation to continue pursuing strategic acquisitions that complement our platform, expand our reach, and better serve our customers,” said Frank Grande, Chief Executive Officer of Quirch Foods. “We see meaningful opportunities to grow in both our core categories and adjacent markets, and this financing enables us to move decisively when those opportunities arise.”
“The increased availability under our ABL allows us to better meet strong and growing demand from our customers,” added Carmen Sabater, Chief Financial Officer of Quirch Foods. “This refinancing underscores the confidence our financial partners have in our business model and long-term strategy, and it gives us the flexibility to continue investing in the areas that drive our growth and success.”
Quirch Foods operates across 24 distribution facilities, servicing customers in 40 states and markets throughout the Caribbean and Latin America. The company’s diversified customer base and multi-channel model span retailers, foodservice operators, and export partners, supported by deep supplier relationships and a proprietary technology platform that drives efficiency and data-based decision-making.
When Quirch first partnered with Palladium Equity Partners in 2018, the company’s annual sales were approximately $1 billion. Since the acquisition, the company has accelerated both organic and acquisition-driven expansion, leveraging technology and scale to deliver exceptional service and reliability to its customers. Today, Quirch is a national leader in protein and specialty food distribution generating more than $4 billion in annual sales through operations in 12 states.
About Quirch Foods
Founded in 1967, Quirch Foods is a food distribution company serving large and independent retailers, foodservice providers, and cruise line businesses across the United States, the Caribbean, and Central and South America. With one of the most comprehensive brand portfolios for a distributor of its type and size, Quirch operates 24 distribution facilities throughout the United States and Puerto Rico, representing a combined 2.4 million square feet of refrigerated warehouse space and a fleet of more than 400 trucks. Quirch Foods® is the exclusive distributor of Chiquita® Brands frozen tropical fruits, Panamei Seafood®, High River Angus®, Kikiriquirch® poultry, Mambo Foods®, and a licensed distributor of Certified Angus Beef®. For more information, visit quirchfoods.com, follow us on Facebook, Instagram, and LinkedIn, or call (800) 458-5252. Quirch Foods is a portfolio company of Palladium Equity Partners.
Contacts
For Quirch Foods:
Jorge Roza, Director of Marketing
[email protected]
(305) 691-3535
