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US investment in ice cream

This article was originally published in Foodnews

CALIFORNIAN private capital firm, Central Valley Fund, has made a USD3.5 million preferred stock investment in Paleteria la Michoacana, a specialist ice cream and desserts company. La Michoacana, which distributes, produces and markets frozen sweets aimed at Hispanic consumers, has seen growth of 25-30% annually in the last five years, the company told The bulk of the investment will be used to expand the business beyond the south-west and grow nationwide, through a wide variety of stores including major retailers, Safeway, Costco and Kroger. The company's products include Mexican-style frozen treats (paletas) and ice-cream products in flavours such as coconut, guava and walnut.



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