Hispanica International Delights of America, a diversified food and beverage company in the Hispanic and ethnic food industry, has acquired Energy Source Distributers, a direct store beverage distributor based in Gilroy, CA.
According to an 8-K filing, TCA Global Credit Master Fund provided a $7.5 million senior secured facility to support the transaction.
ESD generated nearly $3 million in revenues in 2015 and is a player in the energy drinks, iced teas, lemonade, water and craft beers industries which have been the leading growth drivers in the distribution business.
ESD distributes beverages in the counties of Santa Clara, Santa Cruz, Alameda, San Benito and Monterey, serving more than 2,000 locations. ESD vendors include 7 Eleven, Safeway, Nob Hill, Lucky’s and Walmart.
“This is the first acquisition of many we are currently evaluating. The speed in closing this acquisition just days after announcing the signing of our $7.5 million credit facility is a testament to the swift execution of our business plan we have outlined to the investment community,” said Fernando Oswaldo Leonzo, chairman and CEO of Hispanica International Delights.
“Gaining access to the largest retailers in the U.S. such as Walmart and Safeway is a big asset to HISP and will give us an excellent recognition in the food and beverage distribution business” said John Romagosa, president of Hispanica.