Emerald Purchases Cocina Sabrosa Expo, Creating a First for the Latin F&B Industry in the U.S.
February 10, 2023
Emerald, in collaboration with Abasto Media, is spicing up its portfolio with the recent acquisition of Cocina Sabrosa Food & Beverage Trade Expo, the only B2B event in the U.S. solely dedicated to the Latin food and beverage sector.
Formerly a regional event in Southern California, Cocina Sabrosa will be enhanced and expanded to create the first U.S.-based, national Latin food and beverage industry event serving restaurateurs, grocers, suppliers and entrepreneurs within the growing business segment.
“It’s an honor and privilege to work alongside Abasto to launch this premiere nationwide event, which will drive new business and educational opportunities for the passionate, rapidly growing Latin food and beverage community,” said Andrea Fletcher, brand director and Cocina Sabrosa brand leader at Emerald. “Between Emerald’s expertise in building connected communities and Abasto’s industry knowledge and relationships, we’ll be perfectly poised to deliver the resources, content and connections Latin food service leaders need to prosper.”
The acquisition of Cocina Sabrosa Food & Beverage Trade Expo represents another important step in Emerald’s portfolio optimization strategy by strengthening the company’s food and beverage portfolio of leading brands, including International Pizza Expo, International Artisan Bakery Expo, and SIAL America, which is co-produced with industry partner Comexposium.
Emerald’s expansion within the Latin market is aligned with the company’s focus on business sectors with high growth potential. According to research by Nielsen, the Hispanic market represents $1.9 trillion in buying power in 2023, an increase of 87% over the last decade. This sector also accounts for 50% of the growth in the U.S. food and beverage industry between 2005 and 2020, and was valued at $21 billion at the end of that period, according to data released by Statista.
Serving as the only U.S. business hub for the Latin food, beverage and retail industries, Cocina Sabrosa will create new opportunities for retail industry professionals to discover emerging trends and new suppliers from a comprehensive offering of food and beverage products, equipment, technology and professional service providers. Equally, Latin food and beverage suppliers will now have access to a new, focused audience of retailers, allowing for business growth, increased sales and market share.
“We have been envisioning a national Latin food and beverage event for some time by creating an event that will bring our partners and readers together under one roof,” said Gus Calabro, director of Abasto Media. “There is high demand within this segment to create an event like this, and partnering with a world-class company and leader in the events industry like Emerald is now making this a reality.”
The Cocina Sabrosa Food & Beverage Trade Expo ‘s inaugural national debut will take place Sept. 26-27, 2023, at the Irving Convention Center in Irving, Texas.
In addition to supporting commerce and discovery opportunities, Cocina Sabrosa Food & Beverage Trade Expo will also showcase a conference program and other unique educational opportunities, from food and beverage tastings and service demonstrations to professional training, sales and marketing seminars. More detailed information on scheduled programming will be released in the coming months.
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Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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