- Teasdale Foods has acquired Hispanic foods maker Mesa Foods for an undisclosed amount.
- The Mesa acquisition, which includes private label tortillas, flatbreads, taco shells, taco kits, and chips, expands Teasdale's portfolio of branded and private label Hispanic foods sold in retail, foodservice, restaurant, and wholesale channels. This is Teasdale's third acquisition since private equity firm Snow Phipps Group acquired it in October 2014.
- The Hispanic foods category is ticking up: U.S. sales for Hispanic foods and beverages surpassed $8 billion in 2012, and sales are expected to hit $11 billion in 2017, according to Packaged Facts.
Mesa joins the fast-growing Teasdale Hispanic foods family. The portfolio already includes Jardine's Foods, which manufactures natural and organic sauces such as salsas, dips, quesos, BBQ, and hot sauces (acquired in October 2015), and Casa Fiesta, which makes authentic Mexican foods in an array of categories, including beans, peppers, sauces, corn products, and seasonings (acquired in December 2015).
This acquisition won't be the end of the "unique consolidation platform" Teasdale has built, with more acquisitions in the Hispanic foods category anticipated in the future, Sundip Murthy, partner and head of consumer investing at Snow Phipps, said in a statement.
That platform has the potential to become a ubiquitous name in the U.S. Hispanic foods category as Teasdale continues to diversify in products and categories, retail channels, and geographic regions. Few major manufacturers have widely popular Hispanic food brands, which presents Teasdale with the opportunity it's now pursuing with its rapid acquisition strategy.
Teasdale is positioning its own brands as strong contenders in the Hispanic foods category, but the company is also uniquely positioned to serve retailers.