- The Washington Post reports in a company profile that Goya's $1.3 billion in sales last year makes it the largest Hispanic-owned food company in the country, reaching the American Hispanic community, but also expanding its reach into other ethnic food categories such as Chinese and Indian as it targets first-, second-, and third-generation immigrants.
- The company, which was founded 77 years ago and got its start selling olives and olive oil in Manhattan, now sees much larger opportunities as mainstream American consumers open up to ethic foods as well.
- Bob Onanue, Goya's current CEO, says the company gets buyout offers "all the time," but he worries that an acquisition would result in a larger company cutting costs in ways that would undermine what he perceives as Goya's value to consumers.
From the article:
... Goya banks on its own authenticity, developing all its own products along two basic principles: First, stick with tropical cuisines that share ingredients, like coconut milk and pigeon peas that can be adapted for Indian recipes (they also sell imported Basmati rice and Jasmine rice for Thai food). Second, develop more convenient products that serve the upwardly mobile immigrant, like microwaveable rice and beans, low-sodium and sugar-free colas, baby food in Latin flavors and even stuff in squeeze tubes. ...