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{"id":59279,"date":"2020-07-20T00:21:18","date_gmt":"2020-07-20T00:21:18","guid":{"rendered":"https:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/"},"modified":"2020-07-20T00:21:18","modified_gmt":"2020-07-20T00:21:18","slug":"boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company","status":"publish","type":"post","link":"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/","title":{"rendered":"Boss of Goya Foods quietly squashes agreement to sell part of company"},"content":{"rendered":"<div>\n<p>While the boss of Goya Foods defended his controversial support of President Trump last week, he also was quietly quashing an agreement to sell a chunk of the food giant \u2014 a deal that would have cost him his job, The Post has learned.<\/p>\n<p>Chief Executive Robert Unanue \u2014 who sparked calls for a Goya boycott from Rep. Alexandria Ocasio-Cortez (D-Bronx\/Queens) and other Latino leaders after he said at a July 9 White House visit that \u201cwe\u2019re all truly blessed\u201d to have Trump as president \u2014 successfully nixed a minority stake sale that would have valued the privately-held canned-foods giant at more than $4 billion, insiders said.<\/p>\n<p>The proposed deal with BDT Capital Partners \u2014 a buyout firm that sees potential to expand the brand and eventually take it public, according to sources \u2014 also would have required Unanue to leave the helm within 18 months to make way for a new chief executive, according to sources close to the situation.<\/p>\n<p>Sources said Goya\u2019s board of directors last Wednesday voted against the deal with BDT, which is headed by Byron Trott, a former Goldman Sachs banker known for his close relationship to legendary investor Warren Buffett. The vote came after Goya\u2019s board had tentatively agreed to the deal a few weeks earlier, according to a source.<\/p>\n<p>The timing has sparked speculation within Goya\u2019s founding family about the intention behind Robert Unanue\u2019s statement of support for Trump, which he reiterated during an interview on Fox News the day after his White House visit, calling the boycott \u201csuppression of speech,\u201d\u00a0insiders said.<\/p>\n<p>Unanue last year donated $3,000 to the Republican National Committee and has personally supported conservatives in the past, and on Sunday he told The Post, \u201cI was called months ago to serve our country as a commissioner on The White House Initiative for Hispanic Prosperity.\u201d<\/p>\n<p>\u201cI don\u2019t think it was a coincidence,\u201d said one source close to the family, whose patriarch Don Prudencio Unanue founded the Jersey City, NJ-based company in 1936 after emigrating from Spain. \u201cAll of a sudden there is going to be a shareholder vote and here he is, saying this stuff about Trump.\u201d<\/p>\n<p>Spokespersons for Goya and BDT declined to comment on Sunday.\u00a0Robert Unanue declined to comment on the BDT matter.<\/p>\n<p>It\u2019s the second time in less than a year that Unuane\u2019s job was saved after a deal to sell the company was scuttled.\u00a0<a href=\"https:\/\/nypost.com\/2019\/11\/24\/food-giant-goya-planning-a-sale-to-carlyle-group\/\">As first reported by The Post<\/a>, Goya was in talks to sell a controlling stake to the Carlyle Group last fall in a deal that also would have replaced him as CEO. But Goya denied the sale talks at the time and changed its mind at the last minute, according to sources.<\/p>\n<p>\u201cThis was supposed to be a control transaction \u2026 and the family apparently changed its position in the last couple of weeks,\u201d Carlyle co-founder David Rubenstein said in a Nov. 25 interview on Fox Business.<\/p>\n<p>Unanue, who owns less than a 5 percent stake in Goya, saved his job last week by bowing to demands from two key shareholders and adding two independent directors to the family-controlled board, sources said. When Unanue agreed to add the independent directors, key shareholders switched their votes and the BDT deal was scrapped, according to a source.<\/p>\n<p>Goya\u2019s board this week also voted to let management decide how to handle the boycotts, essentially giving Unanue its full backing, the source said.<\/p>\n<p>After his visit to the White House, Trump posed in the Oval Office with an assortment of Goya products on his desk. And last week, Ivanka Trump\u00a0<a href=\"https:\/\/nypost.com\/2020\/07\/14\/ivanka-trump-backs-goya-on-twitter-after-liberals-call-for-boycott\/\">tweeted a photo of herself holding a can of Goya black beans<\/a>\u00a0and writing the company\u2019s slogan \u201cIf it\u2019s Goya, it has to be good,\u201d along with the Spanish translation, \u201cSi es Goya, tiene que ser bueno.\u201d<\/p>\n<p>A source close to the founding family, however, insisted that Goya itself doesn\u2019t take political views and isn\u2019t aligned with Trump.<\/p>\n<p>Presently, there are three factions of the Unanue family, each of which has three seats on the nine-member board, according to the source. Robert Unanue became CEO in 2004 when his family teamed with the Frank Unanue, Jr. family to push out longtime CEO Joseph Unanue, who led the third family faction, sources said.<\/p>\n<p>Since then, the Robert and Frank family factions have run the business in a sometimes shaky alliance, the source said.<\/p>\n<p>Goya sales spiked during the days after the White House meeting, but a source close to the family noted that the hashtags #BoycottGoya and #Goyaway have since gained traction. Some members fret that the brand could suffer in the long run because of Trump\u2019s tough stance on immigration and his infamous 2015 assertion that Mexico was exporting \u201crapists\u201d to the US.<\/p>\n<p>But Robert Unanue\u00a0<a href=\"https:\/\/www.foxnews.com\/media\/goya-boycott-trump-praise-ceo-fox-friends\" rel=\"noopener noreferrer\" target=\"_blank\">doesn\u2019t appear to be backing down<\/a>. In his interview with \u201cFox and Friends,\u201d he said, \u201cThe president has taken away a lot of the regulations and roadblocks to prosperity. We don\u2019t need roadblocks in our path.\u201d<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/nypost.com\/2020\/07\/19\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-company\/\" class=\"button purchase\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the boss of Goya Foods defended his controversial support of President Trump last week, he also was quietly quashing an agreement to sell a chunk of the food giant \u2014 a deal that would have cost him his job, The Post has learned. Chief Executive Robert Unanue \u2014 who sparked calls for a Goya&hellip;<\/p>\n","protected":false},"author":1,"featured_media":59280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[1434,1717],"class_list":{"0":"post-59279","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-foods","9":"tag-quietly"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Boss of Goya Foods quietly squashes agreement to sell part of company - Virus Reports<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boss of Goya Foods quietly squashes agreement to sell part of company - Virus Reports\" \/>\n<meta property=\"og:description\" content=\"While the boss of Goya Foods defended his controversial support of President Trump last week, he also was quietly quashing an agreement to sell a chunk of the food giant \u2014 a deal that would have cost him his job, The Post has learned. Chief Executive Robert Unanue \u2014 who sparked calls for a Goya&hellip;\" \/>\n<meta property=\"og:url\" content=\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Virus Reports\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-20T00:21:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/s3.us-west-1.wasabisys.com\/virusreports\/2020\/07\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\/\/virusreports.net\/#\/schema\/person\/b4d9935a5c761848b065a92393ecc319\"},\"headline\":\"Boss of Goya Foods quietly squashes agreement to sell part of company\",\"datePublished\":\"2020-07-20T00:21:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/\"},\"wordCount\":843,\"commentCount\":0,\"publisher\":{\"@id\":\"http:\/\/virusreports.net\/#organization\"},\"image\":{\"@id\":\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/s3.us-west-1.wasabisys.com\/virusreports\/2020\/07\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company.jpg\",\"keywords\":[\"Foods\",\"Quietly\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/\",\"url\":\"http:\/\/virusreports.net\/boss-of-goya-foods-quietly-squashes-agreement-to-sell-part-of-company\/\",\"name\":\"Boss of Goya Foods quietly squashes agreement to sell part of company - 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