Last updated on August 14th, 2017 at 10:26 am
The Latino Food Industry Association (LFIA) has formed to serve members and educate the public and policymakers on the contributions and economic impact being made by Latino-owned food businesses.
“Given the Hispanic market’s $1.5 trillion in annual buying power and the rapid growth of Hispanic-owned businesses in the food and beverage segment, many of our members felt it was time to launch the Latino Food Industry Association to maximize our position in the industry,” said Ruben Smith, LFIA board chair. “Our members include grocery chains, independent grocers, restaurateurs, food and beverage manufacturers and distributors, growers and several national brands who see a unique opportunity to boost market share as Hispanic food grows in popularity.”
The LFIA was established to promote, support, educate and advocate for the thousands of Latino owners, employees and entrepreneurs who are involved in the country’s food industry. Thanks to shifting U.S. demographics that are skewing heavily Latino, there are now more opportunities for Hispanic entrepreneurs and business owners to succeed than ever before in the food industry, according to LFIA.
“To stay competitive in the burgeoning marketplace, we believe our members need be equipped with the necessary tools to compete and flourish in the food industry,” said LFIA board member David Lizarraga. “The Latino Food Industry Association aims to provide member services including advocacy training, compliance workshops, legislative updates, operational trainings, technology and marketing and branding improvements, among others.”
LFIA, based in Los Angeles, says it already has gained significant membership through its partnership with the Neighborhood Market Association, which has a network of members ranging from more than 100 grocery stores and 1,200 convenience stores, as well as an extensive list of suppliers, distributors, manufacturers, growers, corporations and leaders. Other key founding members include two California grocery chains, Northgate González and Vallarta Supermarkets. Initial corporate sponsors include Coca-Cola and PepsiCo.