"These initial secured purchase orders are only the first step in entering this lucrative and underserved marketplace," said Victor Petrone, chief financial officer/chief operating officer, who has extensive experience in shipping into Mexico and other regions.
Mexico's hotel and restaurant business, including Baja, Calif., is heavily dependent on tourism. Almost 90% of the foreign tourists in Mexico are from the U.S. and many show a preference to purchase U.S. food products. "Diamond Ranch Foods is at the forefront to capitalize on this growing need for products," Mr. Petrone said.
Mexico's hotel, restaurant, and institutional foodservice sectors have sales of $55 Billion, according to a recent U.S.D.A. report. The foodservice distribution industry in Mexico is highly fragmented and underdeveloped, while posing unique logistical challenges, thus creating a barrier to U.S. food service distributors to enter the Mexican market. Diamond Ranch Foods has developed an import portal, as well as a customer base to begin penetrating the Mexican marketplace.