BOSTON — Boston-based investment firm Berkshire Partners has partnered with former Mission Foods chief executive officer Javier Vélez-Bautista to form El Dorado Foods, a multi-category platform to acquire and develop innovative Latin-inspired food and beverage brands.
Mr. Vélez-Bautista will serve as CEO of El Dorado Foods. He previously held various leadership roles, including chief financial officer and board of directors executive committee member, at Gruma SAB de CV, the parent company of Mission Foods. After running consulting firm ValueLink for a decade, he rejoined Mission Foods in 2012 as its CEO. He held that position until 2018 and has since then held various executive advisory roles, including with Berkshire Partners.
“We are thrilled to partner with Javier, who is an accomplished leader with a proven track record for growing companies in this market,” said Josh Lutzker, managing director of Berkshire Partners. “His passion for food, unique understanding of the Latin-inspired flavors consumers love, and expertise building brands with enduring value make him an ideal partner.”
Mr. Vélez-Bautista, who co-founded Chiapas Farms, a Mexican producer and trader of export-grade fruits and vegetables in 2006, said Latin-inspired foods are some of the fastest growing categories in grocers today.
“I look forward to applying my experience in this market to help entrepreneurs and leaders propel their businesses and could not be more excited to start this venture with Berkshire Partners,” Mr. Vélez-Bautista said. “The firm has a long history of identifying and scaling brands that have a special resonance with consumers. With our collective capabilities, El Dorado Foods will partner with the most distinctive and innovative Latin food and beverage brands on store shelves today.”