Quirch Foods has completed a $1.1 billion strategic debt refinancing that strengthens its capital structure and supports the next phase of growth for the Miami-based distributor and exporter of protein and specialty food products.
The refinancing was led by Ares U.S. Direct Lending funds and Regions Bank with additional participation from a consortium of lenders, providing Quirch Foods with expanded financial flexibility as it continues scaling its national footprint.
The new financing structure includes an expanded asset-based lending facility and a delayed draw term loan that will allow the company to pursue strategic investments, advance operational innovation, and position itself for potential acquisitions. The company stated that the capital will support its efforts to invest in technology, talent, and its expanding portfolio of brands as demand increases across its service markets.
Quirch Foods operates 24 distribution facilities servicing customers in 40 states as well as markets throughout the Caribbean and Latin America. Its customer base includes retailers, foodservice operators, and export partners, supported by supplier relationships and a technology platform designed to improve efficiency and enable data-driven decision-making. Since partnering with Palladium Equity Partners in 2018, Quirch Foods has grown from approximately $1 billion in annual sales to more than $4 billion, driven by organic expansion and targeted acquisitions across 12 states.
Founded in 1967, the company has established one of the most comprehensive brand portfolios in the food distribution sector, representing refrigerated warehouse capacity of 2.4 million square feet and operating a fleet of over 400 trucks. Its exclusive and licensed brand partnerships include Chiquita Brands frozen tropical fruits, Panamei Seafood, High River Angus, Kikiriquirch poultry, Mambo Foods, and Certified Angus Beef.
The company stated that the financing will support its continued growth initiatives as it expands its reach and enhances service capabilities across existing and adjacent markets.
KEY QUOTES:
“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. 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.”
Frank Grande, Chief Executive Officer, Quirch Foods
“The increased availability under our ABL allows us to better meet strong and growing demand from our customers. 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.”
Carmen Sabater, Chief Financial Officer, Quirch Foods
