Perspectives from ISB

Goya Foods, Inc. is a producer of a brand of foods sold in the United States and many Hispanic countries including Spain, Puerto Rico and the Dominican Republic. The company founded in 1936 by Prudencio Unanue Ortiz and his wife Carolina, is headquartered in Jersey City, New Jersey. Today, the Unanue family still owns Goya, and it has become the largest Hispanic-owned food company in the United States. It is now owned and led by Bob Unanue, the fourth generation of the Unanue family, who has been the CEO since 2006.

In a recent announcement the company disclosed that they would be sponsoring the 2016 New York International Salsa Congress (NYISC) as part of its 80th anniversary celebrations. A similar round of nationwide celebration was conducted during the company’s 75th anniversary. US President Barak Obama and the First Lady also participated in those events.

Through sponsorships of this nature, this family business has strived to preserve its cultural roots and stay connected with the Hispanic communities. The culture is reflected within the company as well, as most Goya employees are Hispanic and speak Spanish, although neither is a requirement for employment. These cultural linkages have paid off. Goya Foods has doubled in size since 2000, growing in line with the US’s increasing Hispanic population. The firm reported revenues of $1.5 billion in 2015.

Source: CampdenFB