Whether you call 'em frijoles or habichuelas, beans are beans, and Goya's got 'em. Goya Foods produces more than 1,600 Hispanic and Caribbean grocery items, including canned and dried beans, canned meats, beverages, cooking oils, and olives. Its products portfolio also offers rice, seasonings and sauces, plantain and yucca chips, ready meals, and frozen treats and entrees. Goya sells many rice styles and nearly 40 types of beans and peas under the Goya and Canilla brand names. The company sells such beverages as tropical fruit nectars, juices, tropical sodas, and coffee. Goya is owned and operated by one of the richest Hispanic familias in the US -- the Unanues -- who founded the company in 1936.
Goya is one of the largest Hispanic-owned companies in the US. It has historically served the Hispanic communities in the northeastern US and Florida, having mostly Cuban, Dominican, and Puerto Rican customers. The company now has products geared toward the tastes of Hispanics in California and the Southwest who have roots in Mexico, the Caribbean, and Central and South America. An added plus is that the growing taste for ethnic foods across the US has fueled Goya's growth beyond its Hispanic roots. And to its benefit, its "all-in-one-aisle" product placement in food stores has proven to be successful.
Strategically, Goya tailors its products to specific Hispanic markets to set itself apart from rivals. For example, in Miami it emphasizes Cuban food; in Texas it offers Mexican-style products. Attending to immigration patterns, it has introduced more foods popular in Central America, in keeping with the growth of that population in the US.
The company boasts about 20 factories and a dozen distribution centers located in the US, the Caribbean, and Spain. Goya Foods continues to increase its product line and invest in improvements in production and expansion throughout the US. It has increased distribution and production capacity in the markets it serves, particularly in Texas, Virginia, Spain, Puerto Rico, Massachusetts, New York, and Chicago. Goya has added distribution facilities in Illinois and New Jersey, enabling the company to increase its presence in the Midwest and parts of the Mid- and South Atlantic regions. In a move to increase its global sales, Goya's Spanish operation has expanded olive oil production lines and has begun distributing Goya products in Spain, as well as the rest of Europe. As part of its largest expansion in company history, Goya is building a new 615,000-sq.-ft. headquarters and regional distribution center in Jersey City that's expected to open in spring 2014.
Sales and Marketing
The company saw a boost from the country's economic woes as consumers cooked more meals at home and ventured into cooking ethnic cuisines. Goya still faces stiff competition from food giants, such as Kraft Foods, which market lines of Hispanic specialty products. It's also challenged by food manufacturers located in Mexico, who are now turning north to tap the pocketbooks of US consumers. Food retailers carrying Goya products in the US include Wal-Mart, H-E-B, Soriana, Chedraui, and Casa Ley. – less