Farragut Invests in Catalina Finer Foods

WASHINGTON, D.C. – Farragut Capital Partners, Inc. (“Farragut”) is pleased to announce the closing of a subordinated debt and preferred equity investment in Catalina Finer Foods, LLC (“Catalina” or the “Company”).  Farragut and its co-investors partnered with the company’s second-generation owner, Justo Cepero.  Co-investors in the subordinated debt and/or equity include Promise Holdings, Midwest Growth Partners, Gemini Investors, Spring Capital Partners, Lake Country Capital, and SharpVue Capital.  Cadence Bank provided senior financing for the transaction.  The consortium’s investment provides succession and growth capital aimed at fueling both organic and acquisitive growth.

Catalina, headquartered in Tampa, Florida and founded in 1974, is a manufacturer of authentic Cuban and Caribbean cuisine including varieties of croquettes, stuffed potato balls, tamales, stuffed cassava, and other ancillary products.  The Company provides these frozen products to a variety of foodservice and retail grocery customers.  Catalina will seek other frozen food manufacturers as potential bolt-on acquisitions that would expand its product portfolio or increase the Company’s geographic reach.  With over four decades of uninterrupted production of Cuban and Caribbean cuisine delicacies, this investment will help the Company share these wonderful products with more consumers throughout expanded markets.

The investment marks Farragut’s second investment in the branded and private label food space.

For more information on Catalina, please visit www.catalinafoods.com.