Ex-Goya COO on the $1.4 Trillion Family Business Opportunity in Three Consumer Sectors | Andy Unanue

August 18, 2026

AI Summary

5 min read

Andy Unanue, former COO of Goya Foods and now founder of AUA Private Equity Partners, sees a $1.4 trillion market opportunity in family-run businesses across food, beverage, pet wellness, and co-manufacturing. His firm focuses on lower middle market companies with $10 million to $40 million in EBITDA, taking control while requiring families to roll 15 to 45% equity back into the partnership. The core insight: family businesses that have been profitable for decades often operate far below best-in-class efficiency, and Unanue's team has found 15 to 30% operational improvements in every business they've entered—sometimes without any significant capital expenditure.

The Family Business Dynamic

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What you'll learn

1 (00:00) **Family Business Market & Origin Story** - Andy Unanue introduces the $1.4 trillion opportunity in family-run food, beverage, and pet wellness businesses, and traces his journey from COO of Goya Foods to founding AUA Private Equity.
2 (04:21) **Operational Playbook for Family Businesses** - Andy explains his firm's moderate-leverage approach and how they find 15-30% efficiency gains in every portfolio company.
3 (07:30) **Family Exit Motivations & Succession Stories** - Andy describes the varied reasons families sell, from patriarchs wanting out to next-generation leaders ready to scale.
4 (09:41) **State of Private Equity: Lower Middle Market vs. Mega-Firms** - Andy contrasts the exit environment in his segment with the headline-grabbing slowdown at larger firms.
5 (14:45) **Why Not Execute the Growth Plan Yourself?** - Andy explains the discipline of exiting at the right time for fund structure and investor expectations.
6 (16:22) **Demographic Trends: Pet Humanization & Ethnic Food Growth** - Andy shares surprising data on pet spending and explains why cultural authenticity drives his sector focus.
7 (19:49) **Better-for-You Snacking & GLP-1 Impact** - Andy identifies high-protein, high-fiber, cleaner-label products as the permanent trend, amplified by weight-loss drugs.

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Show Notes

Andy Unanue, Founder and Managing Partner of AUA Private Equity Partners and former COO of Goya Foods breaks down the trillion-dollar opportunity in US food, beverage, and pet wellness family businesses. Andy shares how his experience in a family-run business shaped his firm's strategy of partnering with lower-middle-market, family-run companies across those sectors and explains how AUA unlocks 15% to 30% operational efficiencies. The discussion dives into major consumer trends, including the humanization of pets, the rise of ethnic food markets, and the impact of GLP-1 drugs on snacking habits. Finally, Andy offers actionable advice on navigating generational wealth transfers, building positive workplace cultures, and transitioning family enterprises for long-term success.

Learn more about AUA Private Equity Partners: https://auaequity.com

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Timestamps:

00:00 Intro

00:51 Goya Roots to PE

02:48 Market Size Focus

04:21 Operational Playbook

07:26 Exit Paths for Families

09:34 PE Exits and Buyers

13:18 Leaving Upside for the Next Buyer

16:17 Macro Trends Tailwinds

21:22 Beverage Bets and Risk

28:29 Authenticity Wins Consumers

31:41 Marketing and Internet Shift

36:10 Deal Sourcing and Moats

39:08 Co-Manufacturing Advantage

41:14 Regional Brands and Add Ons

44:56 Manufacturing Renaissance

53:34 Wealth Transfer and Family Offices

58:58 AUA Future and Wrap Up